HERNANDO DE SOTO AND THE ‘MYSTIFICATION OF CAPITAL’: A CRITICAL EXPLORATION OF THE DIFFERENCE THAT LEGAL TITLE MAKES FOR THE LOW-INCOME HOUSING MARKET IN SOUTH AFRICA

2008 ◽  
Vol 90 (2) ◽  
pp. 97-105 ◽  
Author(s):  
UDESH PILLAY
Author(s):  
Viyusani Moss

This article reflects on social welfare system and governance of housing markets from an end-user perspective. The article criticallyanalyses the way in which social welfare has correlated to unsustainable development and created self entitlement behaviours andattitudes in the South African low income housing market. The phenomenon was demonstrable by empirical research whosefindings confirmed an existence of an association between a fully subsidized social housing model (as underpinned by South Africa’s social welfare) and propensity to default on mortgages. The study found that the risk of default by homeowners in the low income housing market in South Africa is influenced by government’s housing grant model. In other words, the research established that the principle of servicing a mortgaged starter property (that is almost similar to a government free house by both structure and design) is not universally accepted by homeowners of these mortgaged houses. The unintended consequences are that the system has created indefinite expectations that potentially could; (i) erode the country’s balance sheet; (ii) add to non-payment behaviour; (iii) pressurize the economic and credit systems; (iv) propagate entitlement attitudes and mindsets; (v) create social instability and (v) widened the country’s balance of payment deficits.


2010 ◽  
Vol 74 (10) ◽  
pp. 1340-1344 ◽  
Author(s):  
Lochner Marais ◽  
Jan Cloete ◽  
Zacheus Matebesi ◽  
Kholisa Sigenu ◽  
Deidre van Rooyen

2009 ◽  
Vol 2 (3) ◽  
pp. 233-252 ◽  
Author(s):  
Majd Al‐Homoud ◽  
Salem Al‐Oun ◽  
Al‐Mutasem Al‐Hindawi

2013 ◽  
Vol 5 (12) ◽  
pp. 825-837 ◽  
Author(s):  
Aigbavboa Aigbavboa

There is a fundamental link between theory and measurement advising that factorial confirmation of measures should be the first stage of theory testing. The aim of this paper was to confirm the factorial validity of the neighborhood features in a residential satisfaction study amongst South Africa low-income housing occupants’. The study was conducted amongst subsidized low-income housing occupants’ in South Africa. Data used in the study were obtained from a Delphi and field questionnaire study. Primary data was collected through the use of a structured questionnaire survey conducted among 751 low-income housing residents’ in three metropolitan and one district municipality in the Gauteng Province of South Africa. Data gathered via the questionnaire survey were analyzed using structural equation modeling (SEM) which was used to confirm the factorial structure of the constructs. SEM analysis revealed that the Rho coefficient and the Cronbach’s alpha coefficient of internal consistency were over 0.70 criterions for acceptability. Further finding was that neighborhood features influence on the residents’ satisfaction was not statistically significant and hence was weak in the prediction of the residents’ satisfaction with their houses. However, due to the idiosyncratic dataset used in the study, it remains to be seen if the evaluated indicator factors of neighborhood features can replicate to other cross-cultural datasets. If this is the case, the paper makes a significant contribution towards understanding neighborhood features on subsidized low-income housing projects. This study provided significant insight into how residents’ satisfaction with their houses could be improved.


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