US Equities.

Equity Risk Premium.

The Equity Risk Premium (ERP) refers to an excess return that investing in equities provides over a risk-free rate. The variables in the calculation are PE ratios, Treasury Rates, and Real Rates.

ERP vs. SP500 (1962 - now.)

The equity valuation expectations (forward and trailing) vs. ERP.

TCs on the ERP.

US Real Estate.

Real Estate Risk Premium.

The real estate risk premium (RERP) is the return in excess of the risk-free rate that is required by investors for investing in real estate.

RERP vs/ US Real Estate. The USRE is proprietary index. It’s holding are: AMT, CCI, EQUIX, PLD, PSA, SBAC, SPG, WELL, and FRESX (1980 - now.)

TCs on the USRE.

TCs on the RERP.

Average US Home Prices (ASPUS - FRED) vs/ US Real Estate.

USRE vs. (USRE/GSCI) ratio.

USRE vs. SP500.

SP500 vs. (SP500/USRE) ratio.