Land Policy and Boom-Bust Real Estate Markets

U.S. land and real estate markets went on a roller coaster ride in the 1980s and early 1990s. The combination of economic growth, demographic change, and federal tax and banking policies that stimulated this boom-bust cycle affected regional economic performance, the affordability of housing, and local governments’ fiscal health. This report discusses whether and how local government should attempt to mitigate the effects of such cycles and examines a range of available land and tax policy tools.