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Expected and Actual Effects of Housing Allowances on Housing Prices
Author(s) -
Barnett C. Lance
Publication year - 1979
Publication title -
real estate economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.064
H-Index - 61
eISSN - 1540-6229
pISSN - 1080-8620
DOI - 10.1111/1540-6229.t01-10-00201
Subject(s) - allowance (engineering) , economics , inflation (cosmology) , monetary economics , macroeconomics , operations management , theoretical physics , physics
Most analysts and policy makers expected fullscale housing allowance programs to substantially disturb local housing markets, causing housing prices tb increase sharply. This paper reviews conjectures about expected price effects, summarizes evidence from the Housing Assistance Supply Experiment, and explains why the program did not engender the expected price inflation.