Describe the economic and social problems of having property that is unregistered and in “informal” settlements like these.

List and briefly describe the four major steps that urban migrants perform to setup informal housing in third world cities, such as Lima, Peru. How is bureaucracy a problem for residents of a country, such as Peru, in terms of claiming and using the land on which they reside? Describe the economic and social problems of having property that is unregistered and in “informal” settlements like these. Do you consider this a risky venture for the people doing this? What are the risks involved?
Your writing should begin with an overview of your opinion and summary of data supporting it and rely on evidence from this week’s readings and any other pertinent course materials from this week, stated in a clear and organized manner. The writing should be approximately the equivalent of one page double-spaced with citations of our relevant sources to provide evidence for your argument.
Read de Soto, Hernando. 1989. Informal Housing. In The Other Path: The Invisible Revolution in the Third World. New York: Harper & Row. Use the pdf file below.