| Abstract: | The decision to rent or buy housing, or to choose among various housing acquisition alternatives, represents an important and complex financial problem, which confronts virtually all individuals. This paper develops a comprehensive model (within the institutional and legislative context of the United States) which provides theoretically appropriate criteria for evaluating personal housing alternatives. Empirical results clearly indicate the economic consequences of housing alternatives, and both substantiate some and contradict other “wisdoms” concerning the housing decision. |
