The dual nature of property as both a consumption and an investment good makes itdifficult for households to decide how … a stochastic control model, weturn to the Wealth and Assets Survey panel for the UK, which allows to break down indetail … households’ portfolios, to show empirically how the relationship between propertyand stockholdings depends on the value of …

turn to the Wealth and As-sets Survey panel for the UK, which allows to break down in detail households’ port-folios, to …