Accountable Developers, Accessible Homes: Regulatory Pathways to Expanding Home Ownership

Home ownership builds wealth yet remains inaccessible for many. Developers constitute critical but understudied intermediaries controlling housing supply and affordability. Using India as our setting, we examine how regulatory intervention mandating developer accountability transforms home ownership. These reforms restructure the market—some exit under compliance burdens while others enter as standards replace reputation signals. The intervention benefits first-time buyers and marginalized groups while expanding affordable housing beyond metropolitan centers. Post-intervention mortgages show lower delinquency rates, revealing borrowers were deterred by developer’s default risk rather than creditworthiness concerns. Our findings show how developer-focused policies can reshape housing markets for previously excluded populations.