|III. THE HOUSING MARKET OF KUMASI<br>. . . . . . . . . . . . . . . . . . .<br>|41<br>|
|---|---|
|A. An Introduction to Kumasi . . . . . . . . . . . . . . . . . . .|41|
|B. Household Survey Data ......<br>.. .. .. .. .. .<br>.. .<br>.|43|
|C. Kumasi's Housing Stock . . . . . . . . . . . . . . . . . . . .|43|
|Access to Utilities and Services . . . . . . . . . . . . . .|45|
|Environmentel Conditions ........<br>.. ...<br>.. ..<br>.|46|
|Housing Supply . . . . . . . . . . . . . . . . . . . . . . .|46|
|D. Household Characteristics . . . . . . . . . . . . . . . . . . .|47|
|Tenure.<br>. .<br>. . . . . . . . .<br>. . . . . . . . . . . . . .|47|
|House Ownership and "Family Houses".<br>. . . . . . . .<br>. .|47|
|Income and Cornsumption . . . . . . . . . . . . . . . . . . .|48|
|Household Size . . .<br>. . . . . . . . . . . . . . . . . . .|50|
|Household size by tenure ........<br>.. ...<br>.. ..<br>.|52|
|Rooms occupied . . .<br>. . . . . . . . . . . . . . . . . . .|52|
|Occupancy rates ......................<br>.|53|
|Rents by Consumption Quartile . . . . . . . . . . . . . . . .|53|
|Summary of Key Data by Tenure . . . . . . . . . . . . . . . .|54|
|IV. ECONOMIC ANALYSIS OF RENT CONTROL: THEORY . . . . . . . . . . . . .|57|
|A. Introduction . . . . . . . . . . . . . .<br>. . . . . . . . .|57|
|B.Analysis<br>of Rent Control as a Tax on Hou.<br>. . . . . . . . .|57|
|Rent Control as Expenditure Control . . . . . . . . . . . . .|58|
|<br>C. Dynamic Models of the Effect of Rent Control on Maintenance.|59|
|D. The Relationship Between Controlled and Uncontrolled Markets|59|
|E. Two Approaches to Measuring Costs and Benefits . . . . . . . .|60|
|Cost-Benefit Using a Cross-Country Model<br>. . . . . . . . . .|60|
|Cost-Benefit Using a Model Similar to Edgar Olsen's . . . . .|61|
|V. ESTIMATES OF THE COSTS AND BENEFITS OF CONTROLS . . . . . . . . . . .|65|
|A. Introduction ..........<br>...<br>...<br>....<br>...<br>.<br>.|65|
|B. Choice of Reference Group . . . . . . . . . . . . . . . . . . .|66|
|Controlled and "Uncontrolled" Households Compared . . . . . .|70|
|Selectivity Bias<br>.................<br>....<br>.|71|
|Net versus Gross Rent ...........<br>...<br>....<br>.<br>.|72|
|Anecdotal Recent Evidence on Increase in Advances .<br>. . . .|73|
|C. PcOc: Current Rent Paid . . . . . . . . . . . . . . . . . . .|74|
|D. Estimating PmOm With a Cross Country Model of Housing Demand|75|
|"Uncontrolled" Rents Compared to Predictions from the Cross-||
|Country Model . . . . . . . . . . . . . . . . . . . . .|81|
|<br>E. Estimating PmQm With Kumasi Survey Data . . . . . . . . . . . .|82|
|<br>F. Price Elasticity of Demand .....<br>. . .. . . . .. . . .<br>.|83|
|<br>G. Estimating PmOc With Hedonic Indexes . . . . . . . . . . . . .|83|
|<br>Hedonic Estimates**.................**<br>**....**<br>**.**|84|
|H. Cost-Benefit Measures .85||
|Costs and Benefits from the Cross-Country Model . . . . . . .|85|
|<br>Costs and Benefits Constructed from the Hedonic and Demand||
|Equations .87||
|I. Distribution of Cos:s and Benefits . . . . . . . . . . . . . .|90|
|Distribution By Consumption .90||
|Benefits By Length of Tenure .91||
|J. Landlord and Tenant Incomes Compared . . . . . . . . . . . . .|92|

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