The study forecast future expenditure on housing assistance programs; the additional outlays on ISPs due to asset test concessions to home owners; and the aggregate value of home owner tax subsidies. These three housing subsidy components are estimated to increase from $25 billion in 2011 to...

We characterize the relationship between the rent-to-price ratio and house market returns and rent growth in a model where the demographic variable, the middleaged to young ratio, captures the slowly evolving components in the rent-to-price ratio. To document the linkage between demographics and...