Do vacancy decontrol provisions undo rent control?

Article Abstract:

Some rent control laws feature vacancy decontrol-recontrol (VDR) provisions to allow significantly higher rents upon the vacancy of apartments. Tenants can benefit from VDR provisions only if they stay in their apartments, with those remaining the longest benefitting the most. A study was conducted to examine the VDR provision of the Rent Stabilization Law in New York City. Findings revealed that tenants give up low current rent to avail of low future rent. New tenants to the city's rent-stabilized sector in 1981 paid more than tenants in an uncontrolled sector did. Nevertheless, rent increased faster in the uncontrolled sector from 1981 to 1987. Therefore, tenants who made higher payments for their rent-stabilized apartments in 1981 ended up making lower payments in 1987. The study also found that new tenants who opted for the stabilized sector in 1981 stayed longer than new tenants who selected the uncontrolled sector.

Research, Contracts, Rent control, Apartments

---

A Markov Chain Monte Carlo analysis of the effect of two-rate property taxes on construction

Article Abstract:

Tax data from 15 Pennsylvania municipalities between 1972-1994 are employed to study the effect of a two-rate taxing structure on construction starts. Parameters are estimated using a Markov chain Monte Carlo model known as the Gibbs sampler. Comparisons with data from 204 similar municipalities that tax land and structures at the same rate demonstrates the efficacy of a two-rate taxation policy.

Construction, Pennsylvania, Construction industry, Usage, Laws, regulations and rules, Tax policy, Markov processes

---

Rental housing markets, the incidence and duration of vacancy, and the natural vacancy rate

Article Abstract:

This article uses intermetropolitan and time-series data to evaluate the incidence and duration of rental housing vacancies to assess their importance in price adjustment. Results show that the rate of real rent changes are a reflection of deviations in observed incidence and duration of vacancies.

Statistical Data Included, Rental housing

Similar abstracts:

• Abstracts: Understanding gentrification: an empirical analysis of the determinants of urban housing renovation. New urbanism and housing values: a disaggregate assessment
• Abstracts: Understanding gentrification: an empirical analysis of the determinants of urban housing renovation. part 2 Impact fees and single-family home construction
• Abstracts: Taxation of rent-seeking activities. Income convergence within an economic union: the role of factor mobility and coordination
• Abstracts: Fiscal federalism and redistributive politics. When is two better than one? How federalism mitigates and intensifies imperfect political competition
• Abstracts: Fiscal policy and growth: evidence from OECD countries. Politics, growth, and inequality in rural China: does it pay to join the party?

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.