"A little tail wind is a lot better than a headwind, " says economist Chip Case, the "Case" in Case-Shiller.

WSJ: The U.S. Housing Bust Is Over

If demand for tax preferred qualifying dividends were to shift partly over to REITs as this tax advantage is removed, that increased demand should be a tail wind for REIT share values.

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The fundamental point is that, in the presence of inelastic supply curves, demand-side subsidies face a headwind of adverse price effects, while direct public provision gets a tail wind of favorable price effects.

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