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Housing Returns and Restrictions on Diversification

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dc.contributor.authorChinloy, Peter
dc.contributor.authorCho, Man
dc.date.accessioned2020-09-04T01:57:14Z
dc.date.available2020-09-04T01:57:14Z
dc.date.issued2002-07-01
dc.description.abstractResidential single-family housing dominates the portfolio of the representative household. Most homeowners are neither diversified by asset type nor by geographic market The same households that hold only one house are typically diversified in other financial markets, notably with the shifting of many investment assets to mutual funds. Information on the nature of household portfolios is provided, along with the extent of the cost in either greater risk or lower returns of an overly concentrated portfolio. The low correlations between single family housing markets implies a significant benefit from diversification across markets. Yet, most households are constrained from such diversification, resulting in either higher risk or lower return on personal portfolios.
dc.description.legacydownloads2002_70_81_Loy___Cho.pdf: 275 downloads, before Aug. 1, 2020.
dc.identifier.other5726479
dc.identifier.urihttps://hdl.handle.net/1813/70583
dc.language.isoen_US
dc.relation.ispartofseriesCornell Real Estate Review
dc.rightsRequired Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.
dc.subjectCornell
dc.subjectreal estate
dc.subjectportfolio analysis
dc.subjectreal estate investment portfolio
dc.subjectsingle-family housing
dc.subjecthome equity
dc.subjectresidential real estate finance
dc.subjecthousing diversification
dc.subjectefficient frontier
dc.subjectinvestment portfolio strategies
dc.titleHousing Returns and Restrictions on Diversification
dc.typearticle
local.authorAffiliationChinloy, Peter: American University
schema.issueNumberVol. 1

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