The conventional wisdom that homeownership is very risky ignores the fact that the
alternative, renting, is also risky. Owning a house provides a hedge against fluctuations in …

While residents receive similar benefits from many local government programs, only about
one-third of all households have children in public schools. We argue that capitalization of …

The purpose of this paper is to provide information about the price elasticity of the supply of
housing. I examine the relationship between the average price of single-family housing and …

We present a comprehensive model of household tenure choice that guides our review of
the literature on the impacts of tax and subsidy policies and focuses our critiques of various …

This article surveys and interprets a wide body of literature on the taxation and subsidization
of investment in owner-occupied and rental housing, as well as the impact of and rationale …

Hedonic regression has become the standard approach for modeling the behavior of house
prices. Usually, the common price component is modeled via dummy variables. Based on an …

We estimate how tax subsidies to owner‐occupied housing are distributed spatially across
the United States and find striking skewness. At the state level, the mean tax benefit per …

The US President's Advisory Panel on Federal Tax Reform has recommended changes to
income tax concessions for homeowners. Consistent with the opinions of many economists …

The aim of this paper is to review the international evidence on the impacts of mortgage
interest deductions (MID) on homeownership rates. To understand the relationship between …

Appraisals should assess the market value of properties and are necessary for buying,
selling or building decisions, for lending and for taxation. Despite this unambiguous task …