Public policy and the Philippine housing market

For many Filipinos, the realization of the vision of having and owning a decent structure which may be called a home has been somewhat an elusive dream. Although the government has launched a series of housing programs over the past three decades,the housing problem has not as yet been licked; and the gap between the people's housing needs and the supply of housingdoes not seemto have been reduced, let alone eliminated. The underlying causes are complex. The most that can be said about the situation is that it hasbeen the result of many interrelated factors such as rapid population growth, inadequacy of resources for housing, fragmented approach to housing,low level of incomes and savings,etc. In any event, the government has,in recent years, embarked on a more active and, hopefully this time around, more coordinated policy towards housing. To ensure the success of such venture, more information and data on the demand for and supply of housing, as well as more analysis of policy issues involving housing, are required. It is towards this end that this study was prepared. In this Monograph, Dr. Edna S. Angeles, Research Fellow of the Philippine Institute for Development Studies, presents an analysis of the major aspects of the supply of and demand for housing, identifies housing problems and their underlying causes, attempts to estimate the income and price elasticities of demand for housing, and evaluates some of the housing policies and programs being undertaken by the government. It is hoped that this study will not only help in clarifying various issues involving Philippine housing problems but also provide useful insights into policy making and planning in this vital sector of our society.