 How Many Low Income Housing Tax Credit Projects Will Be Preserved by Government at Year 30 and Beyond?Zhengxu Zhu,
Botong Song () and
Xiaoqiang Gong
A chapter in Proceedings of the 24th International Symposium on Advancement of Construction Management and Real Estate, 2021, pp 655-664 from Springer Abstract: Abstract Low Income Housing Tax Credit (LIHTC) is the largest federal Housing program of all. In 1989, congress extended service life of LIHTC projects to 30 years. About 100,000 projects will end service annually from this year. This paper regards government behavior as exogenous variable and constructs a tripartite evolutionary game model from the perspective of irrational person to explore the evolutionary behavior of the owner group after the service expiration of LIHTC project. The results suggest that there may be multiple evolutionary stabilization strategies for project owners. The government can control the difference between subsidies and development costs to affect the income of participating LIHTC, adjust the difference between fair market rent and the actual market rental to affect the income of choosing the rental vouchers, and finally influence the proportion of the owners choosing certain strategy. Keywords: Low income housing tax credit (LIHTC); Evolutionary game; Expired projects; Rental vouchers; Enter the market (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-15-8892-1_47 Ordering information: This item can be ordered from DOI: 10.1007/978-981-15-8892-1_47 Access Statistics for this chapter More chapters in Springer Books from Springer |
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