Housing appreciation (depreciation) and owners' welfare

被引：2

作者：

Lai, Fu-Chuan ^{[3
]}

McDonald, John F. ^{[4
]}

Merriman, David F. ^{[1
,2
]}

机构：

[1] Univ Illinois, Inst Govt & Publ Affairs, Dept Publ Adm, Chicago, IL 60607 USA

[2] Univ Illinois, Inst Govt & Publ Affairs, Dept Econ, Chicago, IL 60607 USA

[3] Acad Sinica, Res Ctr Humanities & Social Sci, Taipei 11529, Taiwan

[4] Roosevelt Univ, Gerald W Fogelson Distinguished Chair Real Estate, Chicago, IL 60603 USA

来源：

JOURNAL OF HOUSING ECONOMICS | 2010年 / 19卷 / 01期

关键词：

Housing; Property taxes; Moving costs;

D O I：

10.1016/j.jhe.2009.10.004

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper extends Frank's (2006) very simple model to analyze the welfare effects of appreciation and depreciation in a world with borrowing, property taxes, and moving costs. It is shown that appreciation can make homeowners worse off but that even when there is a property tax depreciation can not make homeowners who intend to stay in their house worse off. Our model provides a simple framework that can be used discuss the rationale for alternative policies to aid homeowners during periods of both appreciation and depreciation. (C) 2009 Elsevier Inc. All rights reserved.

引用

页码：66 / 73

页数：8

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