New construction and rehabilitation of subsidized housing units are directly compared against the common objective of extending the useful life of the inventory. A model is developed and applied to the case of public housing in the United States of America. Results suggest that rehabilitation is not justified if costs exceed 5–10% of new construction costs. The article concludes with a discussion of limitations of the model and of prospects for further development.
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M E Gleeson (1984) studied this question.
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