Author: Rand CorporationPublisher:
ISBN:
Category :
Languages : en
Pages : 35
Book Description
Price Increase Caused by Housing Assistance Programs - Housing Assistance Supply Experiment
Author: Rand CorporationPrice Increases Caused by Housing Assistance Programs
Author: C. Peter RydellPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 638
Book Description
Two contrasting methods of subsidizing existing housing are "housing allowances," which rely on the discipline of the market to control price increases, and "Section 8 assistance," which uses institutional regulations to control them. Contrary to preprogram predictions, evidence from actual program operations shows that the market outperforms regulation. Housing allowances cause a 2 percent increase, while Section 8 assistance causes a 26 percent increase, in the price of participants' housing. The Section 8 price increases mean that a substantial portion of the federal subsidy is diverted from participants to their landlords. To prevent that diversion, the Section 8 rules could be revised as follows: structure the subsidy so tenants pay the marginal rent dollar; pay the subsidy directly to tenants so they know they pay the marginal rent dollar; and remove the rent ceiling so it can no longer act as a rent target.
Weekly Weather and Crop Bulletin
Author: Consumption Increases Caused by Housing Assistance Programs
Author: C. Peter RydellPublisher:
ISBN: 9780833003980
Category : Social Science
Languages : en
Pages : 48
Book Description
This report compares and contrasts three methods of providing housing assistance to low-income renters: the public housing program, which actually constructs housing for eligible tenants; the housing allowance program, which supplements the income of eligible tenants on condition that they live in housing that meets minimum standards; and unrestricted cash grants, which unconditionally supplement the income of eligible tenants. The evaluation finds that if the alternative programs serve the same population, impose the same housing standards, and provide the same total subsidy to participants, the allowance program will perform unambiguously better than public housing and conditionally better than cash grants.
Price Elasticities of Housing Supply
Author: C. Peter RydellPublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 84
Book Description
Analyzes the price elasticity of the supply of rental housing services, defined as the percentage increase in supply associated with a one percent increase in price. The purpose of the report is to predict the price changes associated with supply responses to shifts in demand. Section II analyzes each component of supply response separately. It presents price elasticities for the repair, inventory, and occupancy responses to demand shifts. It reviews the literature on all three and offers new estimates for the second and third (the estimates are based on the analysis of Annual Housing Survey data from the U.S. Census Bureau reported in Appendix B). Section III combines the three individual supply elasticities into a composite elasticity. It accomplishes the integration using a model of housing-market responses to demand shifts presented in Appendix C. The model was built during the Housing Assistance Supply Experiment to explain the housing market's response to demand shifts caused by an experimental housing allowance program.
How Housing Allowances Affect Housing Prices
Author: C. Lance BarnettPublisher:
ISBN:
Category : Political Science
Languages : en
Pages : 60
Book Description
Shortrun Response of Housing Markets to Demand Shifts
Author: C. Peter RydellPublisher: RAND Corporation
ISBN:
Category : Business & Economics
Languages : en
Pages : 60
Book Description
Presents a theory of short-run market adjustments to exogenous demand shifts that is consistent with evidence from the Housing Assistance Supply Experiment (HASE). It is argued that (1) a 1.0 percent shift in rental demand leads to a rent change of only 0.26 percent, whereas capital value can change as much as 5.0 percent; and (2) landlords derive capital value in a tightening market primarily from decreased vacancy loss (because of monopolistic competition among themselves) rather than from increased nominal rent. Using HASE data, the theory predicts that a housing allowance program would cause short-run rent increases of 0.6 to 1.0 percent and capital value increases of 1.6 to 6.5 percent, depending on the size and duration of allowance-induced demand shifts.
Sixth Annual Report of the Housing Assistance Supply Experiment
Author: Rand CorporationExperimenting with Housing Allowances
Author: Ira S. LowryPublisher:
ISBN:
Category : Political Science
Languages : en
Pages : 480
Book Description
Experimenting with Housing Allowances
Author: Ira S. LowryPublisher:
ISBN:
Category : Housing subsidies
Languages : en
Pages : 102
Book Description