Accelerating Inflation and Nonassumable Fixed-Rate Mortgages: Effects On Consumer Choice and Welfare

Patric Hendershott and Sheng Hu
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Sheng Hu: Purdue University

Public Finance Review, 1982, vol. 10, issue 2, 158-184

Abstract: As a result of both the decline of real user cost of owner-occupied housing and the failure of this cost for nonresidential investment to fail similarly, some have argued that the U.S. economy has overinvested to housing at the expense of industrial capital and thus has suffered substantial productivity losses.

Date: 1982
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Persistent link: https://EconPapers.repec.org/RePEc:sae:pubfin:v:10:y:1982:i:2:p:158-184

DOI: 10.1177/109114218201000203

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