essay on the United Nations Human Rights Council's 2017 report on the financialization of housing (relevant links below). You may either agree or disagree with the report. -http://www.ohchr.org/en/NewsEvents/Pages/DisplayNews.aspx?NewsID=21264&LangID=E

Full report, plus additional languages available here -http://www.ohchr.org/EN/Issues/Housing/Pages/AnnualReports.aspx

My answer(not able to close properly)

On 1 March 2017, the Special Rapporteur on the right to housing of the UN Human Rights Council, Leilani Farha, issueda report on the financialization of housing. The report discussesfinancialization of housing and its implications for the right to adequate housing. A lot of criticism has been done on human rights violations and role of government on these issues. Capital gains exceptions, the exclusion of the primary home from pension calculations, negative gearing, tenancy policies that favour property owners, less restrictive mortgage financing arrangements and first home owner grants are commonly cited examples. However, while the argument that the financialization of housing has its various demerits, the report does miss out on some points. In particular, it assumes that financialization has negative impact as its mainly used by Big Players to mint Millions and thus has a negative impact overall. In this essay I will try to analyse various points mentioned and counter or support them.

Finance in general has brought positive change in society , however, it has been depicted in bad light in this report. Consider for instance, report mentions the evictions of millions of people all around the world on scale that should give rise to international outrage, but there are counter arguments to that such as invention of insurance policies that may ensure people are not homeless on account of not being able to pay mortgage dues on account of unintended bad financial situation, that may also provide reason as to why there has been no international outrage as people do get insurance claim and enough money to buy a new house.

Home equity protection protects homeowners against declining housing prices. Home equity protection may come in different forms, where a homeowner would pay a regular fee and receives a pay-out when house prices fall below a certain level. So while the report argues that "financialized housing markets have caused displacement and evictions at an unparalleled scale", financial products like home equity insurance may in fact counter the claim as it allows homeowners to protect themselves against events like the global financial crisis of 2008.

With regards to the housing market, examples of financial innovation with positive impact are also manifold. Consider the concept and innovation of 'short selling', where an investor borrows a share, sells it to someone and hopes to buy it back for a lower price. While short selling in the housing market is still difficult, certain financial products like Exchange-Traded Funds (ETFs) that track the inverse of a portfolio of REITs, may provide some opportunity for investors to do so. Evidently, new financial products that allow investors to short sell the housing market, will make the markets more efficient and the advent of a bubble less likely.

Now, with regards to housing in India report acknowledges how India has reacted to providing Housing to its 1.3 billion population, with one of the lowest Retail space per capita, by launching various Government schemes providing Financial Aid to people of all Income groups also backed by Supreme Court decisions in various related matters but what it fails to acknowledge is that infrastructure as a whole is very underdeveloped segment in India so it can't be said that people are suffering lack of human rights in Household industry particularly. Also, it fails to acknowledge that the in country like India Flats are much more practical than individual homes due to space constrains and only these so-called big companies can fulfil that requirement taking responsibility of big projects and Indian government has done good bringing in RERA to curb any violation in this space.

how should end it or add further points