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| Tekijä: | Sa-Aadu, J. Sirmans, C. F. Benjamin, J. D. |
| Otsikko: | Financing and House Prices |
| Lehti: | Journal of Financial Research
1989 : SPRING, VOL. 12:1, p.83-91 |
| Asiasana: | HOUSING HOUSING FINANCE |
| Kieli: | eng |
| Tiivistelmä: | A lot of empirical papers have examined the economics of below-market financing instruments in the housing market. One of the main questions is the following: How big is the capitalization coefficient, i.e. the amount of the financing subsidy that is capitalized in the house price? All the earlier papers have suffered from estimation and interpretation problems. The new method developed here uses data for mortgage revenue bonds. The new results prove that all financing subsidy is capitalized in house prices. |
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