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Mortgage Payment as a Portion of Income: A Better Solution

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Author Info
Anthony Yanxiang Gu () (Jones School of Business, State University of New York, 115D South Hall, 1 College Circle, Geneseo, NY 14454)
Joseph W. Trefzger () (Department of Finance, Insurance and Law, Illinois State University, Normal, IL 61790-5480)
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.

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File URL: http://www.umac.mo/fba/irer/papers/past/Vol6_pdf/121-135%20PRC.pdf
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Publisher Info
Article provided by Asian Real Estate Society in its journal International Real Estate Review.

Volume (Year): 6 (2003)
Issue (Month): 1 ()
Pages: 121-135
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:ire:issued:v:06:n:01:2003:p:121-135

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Postal: Asia Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
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Web page: http://www.asres.org/

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Postal: Asian Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
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Find related papers by JEL classification:
L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

References listed on IDEAS
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  1. Ramon Moreno, 2002. "Reforming China's banking system," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue May 31. [Downloadable!]
  2. John Vickers & George Yarrow, 1988. "Privatization: An Economic Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262720116, December.
  3. Anthony Yanxiang Gu, 2002. "Valuing the Option to Purchase an Asset at a Proportional Discount," Journal of Financial Research, Southern Finance Association and Southwestern Finance Association, vol. 25(1), pages 99-109. [Downloadable!] (restricted)
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This page was last updated on 2009-12-3.

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