Possible benefits of tax reform include faster economic growth and greater equity across households. A part of economic growth is the channeling of saving into the most productive real investments. The ability of various tax regimes to channel saving efficiently and independently of the...

In contrast to the conventional wisdom, real estate activity in the aggregate is not disfavored by the 1986 Tax Act. Within the broad aggregate, however, widely different impacts are to be expected. Regular rental and commercial activity will be slightly disfavored, while historic and old...

Possible benefits of tax reform include faster economic growth and greater equity across households. A part of economic growth is the channeling of saving into the most productive real investments. The ability of various tax regimes to channel saving efficiently and independently of the...

This paper estimates the likely impact of the Administration tax reform plan on housing. Our analysis incorporates two general equilibrium impacts -- a one percentage point decline in the level of interest rates and a decrease in the property tax rate on principal residences -- and corrects...

In contrast to the conventional wisdom, real estate activity in the aggregate is not disfavored by the 1986 Tax Act. Within the broad aggregate, however, widely different impacts are to be expected. Regular rental and commercial activity will be slightly disfavored, while historic and old...

This paper estimates the likely impact of the Administration tax reform plan on housing. Our analysis incorporates two general equilibrium impacts -- a one percentage point decline in the level of interest rates and a decrease in the property tax rate on principal residences -- and corrects...