注册 投稿
经济金融网 中国经济学教育科研网 中国经济学年会 EFN通讯社

住房的资产价格(The Asset Price of a House)

文件大小:未知

级别评定:★★★★★

添加时间:2016-07-10 00:50:34

最后更新:2016-07-10 00:55:12

下载积分:0分 (只有会员文件下载时才需要相应积分验证)

总浏览:

总下载:9

发布人:george15135

  • 如果您发现该资源不能下载,请在本站论坛提出,管理员会及时处理。
  • 未经本站明确许可,任何网站不得非法盗链及抄袭本站资源。
  • 本站资源均为网友提供交流,仅供教学、研究使用,请下载后24小时内自行删除。
    0
资源简介

Inho Song, KDI

The Asset Price of a House

Song studies how an asset-pricing model is derived for a house based on conditions from the rental and mortgage capital markets. The house's rent-price ratio has factors for expected real appreciation, mortgage rates and inflation. Each factor's coefficient is its rent-price incidence, or proportion of shocks borne by tenant users. Over 1981-2013 U.S. houses are near bonds. Rent-price yields reflect only 17% of real house asset price or mortgage shocks. A house's equity premium is bond-like at 1.05% annually, one-quarter that of stocks. During 1998-2004 houses earn a stock-like equity premium above 5% annually before reverting, potentially presaging the crisis.

资源评论

快速入口
回到顶部
深圳网站建设