Expected and Actual Effects of Housing Allowances on Housing Prices

by C. Lance Barnett


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Most housing analysts and policymakers expected full-scale housing allowance programs to substantially disturb local housing markets, causing housing prices to increase sharply. This paper reviews the conjectures about allowances' market effects, summarizes evidence from the Housing Assistance Supply Experiment, and explains why the allowance program has not engendered the price inflation that was expected.

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