The homeownership rate in Cuba is one of the highest in the world, commonly cited at around 90%. State ownerd apartments were given over to residents following the revolution. By the early 1990s , over 85% of households belonged to homeowners in some way. More recently, the 2011 legalization of private sales and gave a structure to private transfers.
There exists a centralized ownership record in the Municipal Property Registry. And there are real estate professionals involved in sales and transactions. But there is no multiple listing service or reliable means of tracking prices. It’s still a hodgepodge of word-of-mouth flow of information.
I find this to be an underdeveloped pathway to liberty and prosperity. The exchange of a family home is often transacted on equal footing between individuals. The concept of who should want to get what and why is accepted, as most would want the same under similar circumstances. The market makes sense to the participants.
Moreover, people like investing in their homes as they realize the gains every time they unlock their front door and step into a slightly nicer space. Once people realize gains on resale, ambitions for continued improvements are primed. And the neighborhoods improve.
Now, if only mortgage money were more common and predictable.
Home Economics 