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Social Returns to Housing and Other Fixed Capital

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  • Edwin S. Mills

Abstract

This paper addresses the efficiency of the allocation of the capital stock between housing and other types of private capital. Using national income data from 1929 to 1986 the returns to housing capital relative to all other private fixed capital are computed. The analysis indicates that the real returns to capital have been much smaller and much more variable for housing than for non‐housing fixed capital in the U.S. economy.

Suggested Citation

  • Edwin S. Mills, 1989. "Social Returns to Housing and Other Fixed Capital," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 17(2), pages 197-211, June.
    • Handle: RePEc:bla:reesec:v:17:y:1989:i:2:p:197-211
    DOI: 10.1111/1540-6229.00485
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    Cited by:

    1. MeiChi Huang, 2013. "The Role of People’s Expectation in the Recent US Housing Boom and Bust," The Journal of Real Estate Finance and Economics, Springer, vol. 46(3), pages 452-479, April.

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