Mortgage Payment as a Portion of Income: A Better Solution

Anthony Yanxiang Gu and Joseph W. Trefzger ()
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Joseph W. Trefzger: Department of Finance, Insurance and Law, Illinois State University, Normal, IL 61790-5480, http://www.ilstu.edu/

International Real Estate Review, 2003, vol. 6, issue 1, 121-135

Abstract: We propose a program that would further promote housing privatization in China. In addition to operating its current Housing Savings Fund program, the government could guarantee loans, with payments capped at affordable levels or spread out over workable payment periods. Such a program would balance efficiency with fairness by encouraging market forces, while addressing practical necessities (lenders?rights, corruption, labor mobility) so that privatization could relieve the burden on government and taxpayers. Net benefits would arise through the private market’s greater efficiency in managing housing resources.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2003
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