Vacancy chain and vacancy transfer analyses are two methods used to assess housing market filtering as a policy tool. The vacancy transfer method is better suited for ascertaining the beneficial impact of housing turnover for particular subgroups of the population. Policy considerations dictate that we consider who benefits from improved housing opportunities. The vacancy transfer method proposed by White (1971) is carried out with data not available to him. His policy implications are not justified by the results when we explicitly consider the social utility of housing vacancies. By establishing a priori weights or a welfare function, it is possible to ascertain the maximum benefits for given levels of expenditures.
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