IDEAS home Printed from https://ideas.repec.org/a/bla/revinw/v54y2008i2p279-284.html

The Rent‐Price Ratio For The Aggregate Stock Of Owner‐Occupied Housing

Author

Listed:
  • Morris A. Davis
  • Andreas Lehnert
  • Robert F. Martin

Abstract

We construct a quarterly time series of the rent‐price ratio for the aggregate stock of owner‐occupied housing in the United States, starting in 1960, by merging micro data from the last five Decennial Censuses of Housing surveys with price indexes for house prices and rents. We show that the rent‐price ratio ranged between 5 and 5.5 percent between 1960 and 1995, but rapidly declined after 1995. By year‐end 2006, the rent‐price ratio reached a historic low of 3.5 percent. For the rent‐price ratio to return to its historical average over, say, the next five years, house prices likely would have to fall considerably.

Suggested Citation

  • Morris A. Davis & Andreas Lehnert & Robert F. Martin, 2008. "The Rent‐Price Ratio For The Aggregate Stock Of Owner‐Occupied Housing," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 54(2), pages 279-284, June.
    • Handle: RePEc:bla:revinw:v:54:y:2008:i:2:p:279-284
    DOI: 10.1111/j.1475-4991.2008.00274.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1475-4991.2008.00274.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1475-4991.2008.00274.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Other versions of this item:

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:revinw:v:54:y:2008:i:2:p:279-284. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/iariwea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.