Estimates the federal income tax subsidy and the associated deadweight loss to both owner-occupied and rental housing. Focuses on the tax subsidy after passage of the Tax Reform Act of 1986 and adds more detail than other work in this literature regarding the distribution of the subsidy among...

Elaborates on the major disturbances to income producing real estate markets in the 1980's and describes a simple model that can be used to illustrate the effects of such disturbances. Interprets developments in the multifamily and office markets and considers the owner-occupied housing market.

This paper explores the reasons why some real estate salespeople earn more than others. Data from a survey of members of the Illinois Association of REALTORS conducted in the spring of 1985 are the basis of the analysis. The central part of the paper analyzes via multivariate regression analysis...

Capital investment tax provisions have been changed numerous times in the last decade, with depreciation tax lives shortened in 1981 and lengthened ever since and capital gains taxation reduced in 1978 and 1981 and now increased. The first part of this paper analyzes these changes and attributes...

Most models of the rental housing market assume a close linkage between the level of residential rents and the after-tax user cost of rental housing capital. However, little empirical evidence exists to establish the strength of this linkage or the speed with which rents adjust to changes in...

In contrast to the conventional wisdom, real estate activity in the aggregate is not disfavored by the 1986 Tax Act. Within the broad aggregate, however, widely different impacts are to be expected. Regular rental and commercial activity will be slightly disfavored, while historic and old...

This article critiques the Federal Housing Administration's (FHA's) new processing option for small, multifamily mortgage insurance -- small projects processing (SPP). The authors review some of the motivations behind reforms at FHA multifamily and highlight how the SPP initiative is designed to...

This article critiques the Federal Housing Administration's (FHA's) new processing option for small, multifamily mortgage insurance--small projects processing (SPP). The authors review some of the motivations behind reforms at FHA multifamily and highlight how the SPP initiative is designed to...

In contrast to the conventional wisdom, real estate activity in the aggregate is not disfavored by the 1986 Tax Act. Within the broad aggregate, however, widely different impacts are to be expected. Regular rental and commercial activity will be slightly disfavored, while historic and old...