The United States has long exhibited enthusiasm for homeownership. The converse of this is that it has tended to neglect rental housing. This article seeks to do the following: (1) explain why rental housing is desirable; (2) lay out the policies that favor owneroccupied housing; (3) discuss...

Real estate markets are periodically plagued by excess supply, rent concessions and few arms-length transactions. During such periods, valuation is problematic. The model presented here requires the forecasts of future vacancy rates, and equilibrium and actual rental rates. Vacancy rate...