...Ivan M. Johnstone Johnstone’s (1995) actuarial benefit‐cost ratio model estimates the maximum justifiable expenditure on rehabilitation of public housing for each age at which rehabilitation takes place. The model estimates correct maximum expenditures when annual maintenance costs over each age...

...Ivan M. Johnstone Develops actuarial benefit‐cost ratio models of rehabilitation and new dwelling construction to indicate when investment in public housing is best diverted from new construction into rehabilitation of existing dwellings. The data used by the models are based on an empirical study...