2016
DOI: 10.2139/ssrn.2940015
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Safety Net? The Utility of Vouchers When a Place-Based Rental Subsidy Ends

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“…The program was introduced in 1974 and provides rental subsidies to private property owners to cover the difference between the Fair Market Rent (FMR) and 30% of a tenant's income (Schwartz, 2010). In 1983, funding for new developments under this program was terminated, though over 1.2 million units were produced (Reina and Winter, 2017). Owners are required to be in the program for at least 20 years (Reina and Winter, 2017), though rental subsidy contracts can last for up to 40 years (Schwartz, 2010).…”
Section: Discussionmentioning
confidence: 99%
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“…The program was introduced in 1974 and provides rental subsidies to private property owners to cover the difference between the Fair Market Rent (FMR) and 30% of a tenant's income (Schwartz, 2010). In 1983, funding for new developments under this program was terminated, though over 1.2 million units were produced (Reina and Winter, 2017). Owners are required to be in the program for at least 20 years (Reina and Winter, 2017), though rental subsidy contracts can last for up to 40 years (Schwartz, 2010).…”
Section: Discussionmentioning
confidence: 99%
“…In 1983, funding for new developments under this program was terminated, though over 1.2 million units were produced (Reina and Winter, 2017). Owners are required to be in the program for at least 20 years (Reina and Winter, 2017), though rental subsidy contracts can last for up to 40 years (Schwartz, 2010). When the subsidy expires, owners can opt out of the Section 8 program and they tend to do so in neighbourhoods with improving conditions and higher appreciations in housing values (Reina and Winter, 2017).…”
Section: Discussionmentioning
confidence: 99%