Homeownership as Investment
Homeownership as Investment
In Latin America, US private interests played a large role in moving housing aid away from support for improved low-income housing, to an emphasis on low-cost housing from the 1960s to the 1990s. By looking at issues of production and finance instead of distribution, American builders and bankers successfully refocused foreign aid programs on homeownership support for small middle classes in countries like Peru, Bolivia, and Mexico. In so doing, investors—with the sanction of host governments and the praise of prospective homeowners—helped construct a global middle-class pattern of housing that divided those who could afford to live in formal housing from those who had to make do in the informal sector.
Keywords: low-income housing, low-cost housing, Peru, Bolivia, Mexico, Alliance for Progress, suburbanization, PL 480, housing investment guaranty
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