Abstract: A Comment on "Tax Rates and Implicit Rates of Return on Owner-Occupied Single-Family Housing"

A Comment on "Tax Rates and Implicit Rates of Return on Owner-Occupied Single-Family Housing"

Authors: Norman G. Miller and Michael A. Sklarz

Start Page: 81
End Page: 84
Volume: 4
Issue Number: 1
Year: 1989
Publication: Journal of Real Estate Research

Abstract: In the Webb and Rubens article on homeowner rates of returns (Journal of Real Estate Research 2:2), they use a model that tends to underestimate the true returns to housing. Both their model and assumptions are reviewed in the discussion below, and modified using the identical data, to show the extent of the bias, and a more realistic result.