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An Updated Look at the Size of the U.S. Real Estate Market Portfolio

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Abstract

Using 1989 data on aggregate real estate values for a sample of counties, this paper develops estimates of the total value of real estate by property type in the United States. The values for commercial and residential property are also reported by region and for the forty-four largest MSAs. The estimated total value of commercial real estate is compared with the value of other investment asset classes, and implications are drawn for investment portfolios.

Suggested Citation

  • David J. Hartzell & Robert H. Pittman & David H. Downs, 1994. "An Updated Look at the Size of the U.S. Real Estate Market Portfolio," Journal of Real Estate Research, American Real Estate Society, vol. 9(2), pages 197-212.
    • Handle: RePEc:jre:issued:v:9:n:2:1994:p:197-212
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    References listed on IDEAS

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    1. Roger G. Ibbotson & Laurence B. Siegel, 1984. "Real Estate Returns: A Comparison with Other Investments," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 12(3), pages 219-242, September.
    2. David Hartzell & John Hekman & Mike Miles, 1986. "Diversification Categories in Investment Real Estate," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 14(2), pages 230-254, June.
    3. David J. Hartzell & David G. Shulma & Vice President, 1987. "Refining the Analysis of Regional Diversification for Income-Producing Real Estate," Journal of Real Estate Research, American Real Estate Society, vol. 2(2), pages 85-95.
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    Cited by:

    1. Stephen Malpezzi & James D. Shilling & Yu Yun Jessie Yang, 2001. "The Stock of Private Real Estate Capital in U.S. Metropolitan Areas," Journal of Real Estate Research, American Real Estate Society, vol. 22(3), pages 243-270.

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    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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