Why Do Households Concentrate Their Wealth in Housing?

An apparent paradox in household wealth accumulation in the United States is the relatively small holding of financial assets and the large holding of housing wealth. To explain the high concentration of household wealth in housing, this paper estimates the marginal propensity to consume from housin...

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Veröffentlicht in:	The Journal of real estate research 2004-10, Vol.26 (4), p.329-344
Hauptverfasser:	Benjamin, John D., Chinloy, Peter, Jud, G. Donald
Format:	Artikel
Sprache:	eng
Schlagworte:	Behavior Capital assets Capital gains Consumer economics Consumer information Discount rates Disposable income Equity Federal Reserve monetary policy Financial assets Household consumption Households Housing Housing prices Human capital Interest rates Marginal propensity to consume Mathematical models Propensity to consume Real estate Real estate economics Risk premiums Studies Taxation Time series U.S.A Wealth
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