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- Title
SUBSIDIZED AND UNSUBSIDIZED HOUSING STARTS: 1961-1977.
- Authors
Murray, Michael P.
- Abstract
The period 1961-1977 in the U.S. indicates that most of the effect of subsidized starts on the housing stock was offset by the displacement of unsubsidized starts. A group of programs sponsored by the U.S. Department of Housing and Urban Development, covering 1.19 million subsidized housing starts over the period, had no measurable effect on the stock of housing, and more than half the effect of the remaining 0.72 million sponsored starts during the period was lost to displacement. There are two primary ways subsidized housing starts might displace unsubsidized starts. First, increases in the stock of subsidized dwellings may reduce the demand for unsubsidized housing, and hence reduce the demand for new unsubsidized housing as well. Second, subsidized housing construction may bid away resources from unsubsidized construction, thereby reducing the supply of new dwellings. An empirical analysis is provided in the article in which subsidized starts are differentiated by target population.
- Subjects
UNITED States; HOUSING subsidies; HOUSING starts; HOUSING finance; UNITED States. Dept. of Housing &; Urban Development; HOUSE construction; GOVERNMENT aid; PUBLIC finance
- Publication
Review of Economics & Statistics, 1983, Vol 65, Issue 4, p590
- ISSN
0034-6535
- Publication type
Article
- DOI
10.2307/1935927