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After three decades of being relatively constant, the homeownership rate increased over the period 1994 to 2005 to … aggregate homeownership rate ranges from 56 and 70 percent. …
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We provide explicit solutions to life-cycle utility maximization problems simultaneously involving dynamic decisions on investments in stocks and bonds, consumption of perishable goods, and the rental and the ownership of residential real estate. House prices, stock prices, interest rates, and...
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