Abolishing these exemptions also would eliminate some broader negative economic consequences. The exemptions make it less expensive for nonprofits to own real estate than it is for homeowners and businesses. The exemptions give nonprofits subsidies that the rest of us do not receive. Nonprofits end up owning more real estate than they would otherwise. This reduces the supply of real estate for homeowners and businesses and makes the remaining supply more expensive. More expensive real estate means higher prices for homes, goods and services.