The Effect Of LIHTC On The Extrusion Of Private Housing Under The Difference Of “global Village Individual” System

The low income housing tax plan as a successful public rental construction model reduces the government's work in the operation and management effectively.At the same time,it can realize the self-circulation operation of affordable housing rents.In 1993, the Federal Government identified the plan as a "permanent project".The construction mode has achieved good results,many countries draw lessons from this construction mode.From 2008,Australia tries to learn and implement the plan,and it solves the problem of the housing shortage of the low income family effectively.But the plan inevitably has a certain crowd-out effect on private housing,before the introduction of the scheme, it is necessary to analyze the possible crowding out effect.The crowd-out effect of the planning area can be verified,while the region that did not implement the plan is unable to predict the effect of its implementation due to the lack of data.An appropriate approach should be sought to analyze the effects of the introduction of the scheme.In order to solve the problem of the lack of implementation of the regional data that it is not able to predict the effect of the implementation.By introducing the concept of "Earth village",weakening the concept of national level,only considering each area(such as a state or city) differences,We take each planned areas and the areas that have not been implemented as a sample—— "Earth village individual". It is assumed that the different effect of each region is only depended on the institution index of each region.We make the institution index contain the national and regional institutional attributes,so we can do research on the same set of samples that have been implemented and not implemented as a sample.Selecting the samples of the aeras that the LIHTC has been implemented,the regression relationship between the sample characteristics and the implementation effect is established.And using the other part of the sample that has been implemented to verify the model.The regression relationship between the individual characteristics of the earth village and the implementation effect is obtained,that is the "Earth village individual" housing extrusion model.Thus for the sample without the implementation of regional, according to the characteristics of the sample, to infer the possible effect, and the effect of transplantation of pre judgment possible.First of all,this paper will give a comprehensive introduction about the LIHTC.It will separately introduce the LIHTC housing project,operation process and current effect,the advantages and disadvantages of the plan in detail.Secondly,considering the institution may have some impacts on housing policy,this paper will analyze the contact between institutional factors and policy of housing.Based on the summary of domestic and foreign scholars,by using the principal component analysis method,an institutional equation model will be constructed,which can analysis the institution index of different periods in various regions.Finally,based on the basic model of housing crowd-out effect,this paper is mainly to study the crowd-out effect of the new LIHTC housing construction quantity and the new private housing in different regions,and integrating the institution into the model to make it closer to the real condition.Thus a crowd-out effect model is constructed which is suitable for the analysis of different "Earth village individual".And then it can examine the relationship of the number of the new construction between the LIHTC housing and private housing.And the validity of the model is verified by selecting the data of Georgia that is not brought into the model and the research results of the scholars.The empirical result shows that the LIHTC housing has a great crowd-out effect on the private housing.At the same time,there is a negative correlation between change of the new housing of the LIHTC and the instution index of the region.In the application of the unapplied area of this plan,the regional implementation of the lower institution index can be selected to improve the amount of the LIHTC effectively,which can reduce the government's work in the operation and management effectively.