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NATIONAL BUREAU OF ECONOMIC RESEARCH
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David C. Ling

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Institutional Affiliation: University of Florida

NBER Working Papers and Publications

December 1986Real Estate and the Tax Reform Act of 1986
with Patric H. Hendershott, James R. Follain: w2098
In contrast to the conventional wisdom, real estate activity in the aggregate is not disfavored by the 1986 Tax Act. Within the broad aggregate, however, widely different impacts are to be expected. Regular rental and commercial activity will be slightly disfavored, while historic and old rehabilitation activity will be greatly disfavored. In contrast, owner- occupied housing, far and away the largest component of real estate, is favored, both directly by an interest rate decline and indirectly owing to the increase in rents. Low-income rental housing may be the most favored of all real estate activities. The rent increase for residential properties will be 10 to 15 percent with our assumption of a percentage point decline in interest rates. For commercial properties, the expected rent inc...

Published: Follain, James R., Patric H. Hendershott and David C. Ling, "Effects on Real Estate," Tax Reform and the U.S. Economy, Pechman (ed.), The Brookings Institution, 1987, pp. 71-94.

 
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