The Economics of Housing Subsidies

National Community Development Initiative Seminar
October 17, 1996
New York, NY

This thirteen-page primer gives an overview of housing subsidy programs and the real estate market. An earlier version was presented to staff at HUD's Chicago office in September 1996.

Topics include:

Housing Subsidy Programs and Economic Efficiency

• Includes diagrams on the efficiency of housing subsidies and a look at the impacts of demand and supply programs on the private housing market

An Overview of the Real Estate Market

• Describes the property and asset markets and how the capitalization rate is determined
• Diagrams the relationship between the property and asset markets and the impact of housing policy on the apartment market

The Importance of Real Estate in the U.S. Economy

• Explains the difference between the flow of real estate and the stock of real estate
• Provides tables on the value of real estate in the United States and who owns it

The full City Research publication is available for download below as an Adobe Acrobat PDF File. Adobe Acrobat Reader (provided free by Adobe) must be installed on your computer in order to read the document.

The Economics of Housing Subsidies - house_sub.pdf 

Left-clicking on the PDF file will launch Acrobat Reader and enable the document to be viewed on screen and then printed. Right-clicking will prompt the user to save the file to disk. The document can then be opened and printed at a later date.