Abstract
The market effects of alternative housing payment formulas are analyzed and compared for a metropolitan housing market using measures of efficiency and distributional equity. The effects of âearmarkingâ allowance payments are considered. Estimated market effects are based on a model of housing market behavior over a 10-year period. The results differ significantly from what one might anticipate based on demand analyses of individual behavior. âHousing gapâ formulas perform better than percent-of-rent formulas. Certain characteristics of the housing market together with particular income redistribution effects of the allowances appear to explain the market behavior.
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