Simo-Kengne, Beatrice; Miller, Stephen; Gupta, Rangan; … - In: The Journal of Real Estate Finance and Economics 50 (2015) 3, pp. 339-354
and stock returns on the growth rate of US consumption over time. We use annual data from 1890 to 2012 and find that at … the 1- and 2-year horizons and over time, generally the housing return positively affects consumption growth while the … small, effect on consumption growth. These opposite responses to changes in housing and stock returns suggest different …