Too Many People and Too Few Livestock in West Africa? An Evaluation of Sandford's Thesis

We examine whether Stephen Sandford's (2006 Sandford, S. 2006b. “Too many people, too few livestock: the crisis affecting pastoralists in the Greater Horn of Africa”. Accessed at: http://www.future-agricultures.org/pdf%20files/Sandford_thesis.pdf [Google Scholar]b) ‘too many people, too few livestock’ thesis for the Greater Horn of Africa applies to West Africa. In a comparative study of seven pastoral systems across West Africa we found that pastoralists have generally successfully adapted to pressures on grazing resources. We describe three adaptive strategies: 1) integration and intensification in the Sudanian zone; 2) movement to the Sub-Humid zone; and 3) extensification in the Sahelian zone. We end by proposing four interrelated factors that account for the differences in pastoral systems between West Africa and the Greater Horn of Africa.     

Shared‐equity mortgages,housing affordability,and homeownership

Abstract

Although the homeownership rate rose from 65 percent in 1995 to 69 percent in 2005, this rise appears difficult to sustain. We argue that the development of new shared‐equity mortgages (SEMs) that blur the lines between debt and equity would propel further advances in homeownership. The rationale for these mortgages is that the broad financial markets would value shares in individual housing returns more highly than hard‐pressed prospective homeowners do.

We describe a new class of SEMs and provide survey evidence that most households would prefer them to interest‐only and other currently popular mortgages. Financial simulations confirm the value of the securitized SEMs to investors. We present computations suggesting that an increase in the overall U.S. homeownership rate of between 1% and 1.5% would likely result from the development of SEM markets.