Assignment
Explain the functions and working of the secondary mortgage market and the role it plays in the dynamic submarket stock adjustment model of housing.
• Government in the United States is highly fragmented. Metropolitan areas are broken up into multiple jurisdictions, each with its own set of public services and its own need for revenues. Write an essay outlining the efficiency arguments in favor of limiting fragmentation?
• The largest and least visible (in terms of dollars) single housing policy in the United States is the way the income tax treats home ownership. Write an essay explaining how this policy works and analyzing the probable consequences if Congress were to abruptly repeal these current provisions.