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- Title
Self-Help Housing in the United States.
- Authors
Shenkel, William M.
- Abstract
Self-help Housing in the United States has taken many forms. But probably the most popular form of self-help housing is the "shell" or incomplete but habitable house. Builders specializing in this type of housing include a few dominant construction companies operating in a regional, interstate market. The economics of self-help housing seems to recommend the means of increasing the housing stock-at least in low-income, rural areas. Ideally, a prospect buys a house "package" unfinished to a stage within his ability (and willingness) to complete construction. The saving in cost depends on the amount of owner-labor contributed to the enterprise. The study suggests that higher risks were compensated by higher than normal financial charges and interest rates. In effect, the more solvent buyers, to an unusual degree, apparently subsidized poor credit risks among buyers of incomplete but habitable houses. The contractor-builder who normally assigns the mortgage to a financial intermediary assumes virtually no control over the quality of owner construction.
- Subjects
UNITED States; SELF-help housing; HOUSING; HOUSING policy; FINANCIAL planners; INTEREST rates; INDEPENDENT contractors
- Publication
Land Economics, 1967, Vol 43, Issue 2, p190
- ISSN
0023-7639
- Publication type
Article
- DOI
10.2307/3145242