| From Thehindubusinessline.com: Globally, a significant component of the process of financial expansion and an important site for financial innovation has been the housing finance or mortgage market. The reasons for this are obvious. Every individual or family would like to own a house of their own if it can be afforded. Given the relative costs of housing within the desired asset basket of a household, it constitutes one among the larger investments or the single largest investment that many households can make.
Given the life-span or durability of that investment and its liquidity characteristics, this is an asset which is most eligible for debt financing, since foreclosure due to default can in most circumstances be followed by easy liquidation to compensate the lender...........................................Full Article: Source
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