The findings from the study have shown that Nigeria is under-housed. While investment in housing accounts for 15% to 35% of aggregate investment worldwide, it is only 0.4% in Nigeria. Meanwhile at about 5.3% annual growth rate, urbanization in Nigeria is one of the highest in the world. The consequence is that there are 14-16 million units of housing deficit in Nigeria. Outstanding mortgage loans stood at 0.5% of GDP (2005) compared to 77% in US, 80% in UK, 50% in Hong Kong and 33% in Malaysia (World Bank, 2008).