The value of real estate in the United States today is -of real estate owned by households directly -is about twenty trillion dollars, which makes it comparable or maybe a little bit bigger than the stock market.

现今美国房地产的价值,也就是居民直接持有的房地产的价值,大概有20万亿美元,这与股票市场总值相当,可能还要更大一点

耶鲁公开课 - 金融市场课程节选