Abstract:
There is considerable support for the development of the secondary mortgage market in Ghana. A secondary mortgage market, proponents argue, would be a panacea to the housing problems in Ghana. However, the studies on which a secondary mortgage market has been recommended have focused only on the process and structural pre-requisites needed for establishing such a market. As such, we do not know what the outcome of a secondary mortgage market would be in the Ghanaian context. This study takes up the challenge by analyzing the possible outcome of a secondary mortgage market in Ghana. It finds that a secondary mortgage market in Ghana would not resolve the housing problems of the poor and would condemn a majority of people to homelessness. It presents alternative approaches likely to offer a more lasting solution for the housing crisis in Ghana.
