Tax credits fuel growth of affordable housing

Article Abstract:

The lure of federal income tax credits resulted in the construction of 100,000 multi-family housing units in 1994. Investors find these tax-credit qualifying investments profitable with an approximate yield of 12% to 18%. Banks, as primary investors, benefit by incorporating these investments according to the Community Reinvestment Act, and these tax credits also reduce yearly income tax liability of corporations in a dollar-for-dollar scheme. Total allocations for residential rental projects are about 1.25 times the number of residents in a state. Investors receive the low-income housing tax credits upon the start of the project up to ten years, as the credit period.

Taxation, Laws, regulations and rules, United States. Department of Housing and Urban Development, Low income housing tax credit

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Korean housing: its environment and market conditions

Article Abstract:

Prospects for the South Korean housing industry seem more optimistic with housing construction underway and the continuous economic growth. As the nation's urbanization proved much greater than those of other developing middle-income countries, and housing price data gathered from 1974 to 1989 revealed a 960% increase during the period. Price stabilization occurred between 1987 and 1989 while shortage in housing continues to decline. Affordability of housing, however, must first be worked on for Koreans to achieve their demand for improved housing services.

South Korea, Prices and rates, Forecasts and trends, Housing

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Profile of the second-home market

Article Abstract:

Second homes or vacation homes account for about 3.1% to 7.4% of the national housing stock. Much of second-home owners belong to people over age 65, and some are not college-educated, according to a 1991 study. In a 1995 study, nearly half of vacation homes are in the south, and 21% are in the west. Since 1991 second homes are owned by African Americans grew 242% and by Hispanics by 60%. Among these vacation homes, 46% are located near a beach, 38% near a lake, and more than 78% are located in suburbs.

Surveys, Vacation homes, Second homes

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