"The people that are at the highest level of passive smoke are actually the ones reporting exposure in their own homes.

VOA: standard.2010.06.15

Of course, other stocks are held by institutions on their behalf, but in terms of direct ownership, homes are the main thing that people own.

当然,他们还通过金融机构,间接持有股票,但从直接持有的角度来看,人们拥有的主要财产就是住宅

耶鲁公开课 - 金融市场课程节选

There's also commercial real estate, which is smaller than owner-occupied homes, but we own that indirectly too, as a people, through the stocks that we own and through the institutions we participate in.

除此之外还有商业地产市场,它比自有住房市场要小,但人们也可以间接持有商业房产,人们可以通过持有股份,及参加一些机构的方式来持有商业地产

耶鲁公开课 - 金融市场课程节选