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Empirical Risk-Return Analysis of Real Estate Investments in the U.S., 1972-1999

Listed author(s):
  • Jack Clark Francis


    (CUNY Baruch College)

  • Roger G. Ibbotson


    (School of Management)

Registered author(s):

    This article reviews the empirical risk and return statistics from physical real estate and financial real estate investments made in the U.S. over the period 1972-1999. It includes income, capital appreciation, and total returns from business, residential, and farm real estate, as well as REIT equity and mortgages. These investments are compared to U.S. stocks, bonds, inflation, and other asset categories. The advantages and disadvantages of investing in the real estate are enumerated.

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    Paper provided by Yale School of Management in its series Yale School of Management Working Papers with number ysm235.

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    Date of creation: 16 Oct 2001
    Handle: RePEc:ysm:somwrk:ysm235
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