Tax expenditures and other programs to stimulate housing: Do we need more?

Article Abstract:

Current tax incentives for home ownership are sufficient to stimulate the demand for housing and home purchasing, if accompanied by mortgage instruments designed to accommodate cash flow constraints. However, the cost in terms of taxes lost more than offsets the social benefits derived from additional housing, and suggests current incentives may not be cost-effective. Standard fixed payment mortgages (SFPMs) are evaluated against alternative mortgage payment structures (including price level adjusted mortgages and FHA 235 housing agreements) that alleviate home buyers' cash flow problems. This evaluation indicates price level adjusted mortgage structures are more effective at encouraging housing demand during times of high inflation. However, the analysis also indicates that governmental programs to encourage housing demand are worth approximately 60 percent of their costs.

Analysis, Economic aspects, Supply and demand, Housing, Tax incentives, Home ownership, Housing subsidies

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Do state motor fuel sales-below-cost laws lower prices?

Article Abstract:

The impact of newly enforced motor fuel sales-below-cost (SBC) regulations on retail and wholesale gasoline prices is analyzed. Findings disclose that gasoline prices decrease with the imposition of the SBC laws, while gasoline outlets increase.

Sales & consumption, Commodity & service prices, Petroleum Refineries, PETROLEUM AND COAL PRODUCTS, Petroleum, Petroleum and Coal Products Manufacturing, Petroleum refining, Gasoline, Petroleum & Energy Products, Prices and rates, Company pricing policy, Industry sales and revenue

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Ruthless prepayment? Evidence from multifamily mortgages

Article Abstract:

This article discusses the relationship between the option pricing model, mortgage refinancing, and financial decision making. Topics include prepayment estimation, loan maturity, and economic analysis.

Home Mortgages, Research, Securities, Mortgages

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