Policy change from affordable housing to public rental housing: A comparative analysis based on iad framework

Abstract

At a time when affordable housing gradually withdraw from the stage of history and public rental housing instead become the main part of indemnificatory housing, in order to explore the efficiency of the policy change, as well as social welfare and housing affordability, this paper first combs the policy change of indemnificatory housing. Learning from the Institutional Analysis and development Framework put forward by Ostrom, this paper then builds the IAD framework of the indemnificatory housing policy change analysis. After that, it analyzes the short-term changes in efficiency and long-term changes in social welfare using econometric models. In the empirical part, this paper compares the reasonable price for the target groups and the current benchmark price of indemnificatory housing, taking Hangzhou for example. It can be concluded that policy change from affordable housing to public rental housing has enhanced the affordability of housing for middle- And low-income families, meanwhile, policy efficiency and social welfare have been increased, which is beneficial to the whole society. © Springer-Verlag Berlin Heidelberg 2014.