Global models for funding housing : what is the best model for Poland?

As recently as 1996, the entire country had only four lenders and 653 million zloty of market rate mortgages. By mid- 1999, over 30 lenders were active in the housing finance market, with over 3.9 billion zloty of market rate mortgages outstanding. This paper, developed for the final conference of USAID"s Poland housing finance project, reviews the four major models for funding housing that are being discussed in Poland today: the universal banking model, the mortgage bank model, the contract savings model, and the secondary mortgage market model. The review briefly describes each model, notes its strengths and weaknesses, and characterizes its relative importance in developed country housing finance. The paper concludes with a view of the likely evolution of housing finance in Poland in the early 21st century. Includes references. (Author abstract, modified)