The Rate of Return from Investing in Single-Family Housing
研究了1970-1974年间某城市住房市场中，自住业主在独户住宅上的年均名义回报率，并与同期普通股票投资回报率进行比较。
The subject of our paper is this still largely unexplored question: When households elect to own instead of rent dwelling space, what average annual nominal rates of return do they tend to earn on the equity capital they have invested, and how do these rates compare with the average annual nominal rates of return they earn, or could earn, at the same time on equity investments in common stocks? Our purpose is to answer this question for a sample of investor-occupants in a particular urban housing market for the period 19701974.1