Tax Rates and Implicit Rates of Return on Owner-Occupied Single-Family Housing
Private sector investors, as well as public sector policy analysts and consumers, need accurate historical estimates of returns for single-family houses. In addition, researchers need such data to understand capital flows and supply/demand relationships among asset classes. Unfortunately, such estimates have not been available on a comprehensive basis. Each previous study used only a very few samples. This study alleviates these problems by providing returns for single years, and possible holding period, levered (most realistic) and unlevered examples, from appreciation and cash flow separately. It then adjusts each of these for six different tax brackets (0%, 10%, 20%, 30%, 40% and 50%). This should help focus the debate on the "effect of inflation on the demand for housing." The comprehensive rate-of-return information provided here is compared to returns for other assets to determine relative attractiveness. The results obtained indicate generally lower rates of return on owner-occupied, single-family housing than previous studies and a priori expectations.
Volume (Year): 2 (1987)
Issue (Month): 2 ()
|Contact details of provider:|| Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323|
Web page: http://www.aresnet.org/
|Order Information:|| Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323|
Web: http://pages.jh.edu/jrer/about/get.htm Email:
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Mike Miles & Tom McCue, 1984. "Commercial Real Estate Returns," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 12(3), pages 355-377.
When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:2:n:2:1987:p:11-28. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (JRER Graduate Assistant/Webmaster)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.