University College London.
Int J Urban Reg Res. 2011;35(1):57-77. doi: 10.1111/j.1468-2427.2010.00945.x.
In the global South, policies providing property titles to low-income households are increasingly implemented as a solution to poverty. Integrating poor households into the capitalist economy using state-subsidized homeownership is intended to provide poor people with an asset that can be used in a productive manner. In this article the South African "housing subsidy system" is assessed using quantitative and qualitative data from in-depth research in a state-subsidized housing settlement in the city of Cape Town. The findings show that while state-subsidized property ownership provides long-term shelter and tenure security to low-income households, houses have mixed value as a financial asset. Although state-subsidized houses in South Africa are a financially tradable asset, transaction values are too low for low-income vendors to reach the next rung on the housing ladder, the township market. Furthermore, low-income homeowners are reticent to use their (typically primary) asset as collateral security for credit, and thus property ownership is not providing the financial returns that titling theories assume.
在全球南方，为低收入家庭提供房产所有权的政策越来越多地被作为解决贫困问题的手段。通过国家补贴的住房自有化将贫困家庭纳入资本主义经济，旨在为贫困人口提供一种可以以生产性方式使用的资产。本文利用深入研究开普敦一个政府补贴住房安置点所获得的定量和定性数据，对南非的“住房补贴制度”进行了评估。研究结果表明，尽管政府补贴的房产所有权为低收入家庭提供了长期的住房和保有权保障，但房屋作为金融资产的价值是混合的。尽管南非的政府补贴住房是一种具有金融交易性的资产，但交易价值对于低收入卖家来说太低，无法让他们进入下一个住房阶梯，即乡镇市场。此外，低收入房主不愿意将其（通常是主要的）资产用作信贷抵押品安全保障，因此，房产所有权并没有带来所有权理论所假设的财务回报。
