The report arises out of special session on the global financial crisis organised by UN-HABITAT in 2008. The report discusses the current housing finance crisis and its impacts on the housing sector, affordable housing and the global economy.
It examines the underlying factors and evolution of the global financial crisis and its preceding sub-prime crisis and its spreading, and the major players in the crisis, particularly the role of government, government-sponsored enterprises and specialised housing finance institutions and innovative funding instruments.
It reexamines the effectiveness, efficiency and fairness of the current global financial governance system. It discusses lessons and options under the crisis and implications of extended government intervention in the housing finance market. It also looks at the impats of the global financial crisis.