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The Rent-Price Ratio for the Aggregate Stock of Owner-Occupied Housing

Author

Listed:
  • Morris A. Davis

    (federal reserve board)

  • Andreas Lehnert

    (federal reserve board)

  • Robert F. Martin

    (federal reserve board)

Abstract

We construct a time series of the rent-price ratio for the owner- occupied stock of housing, starting in 1960:1, by merging micro data from the last five Decennial Censuses of Housing with price indexes for house prices and rents.

Suggested Citation

  • Morris A. Davis & Andreas Lehnert & Robert F. Martin, 2005. "The Rent-Price Ratio for the Aggregate Stock of Owner-Occupied Housing," Urban/Regional 0509019, EconWPA.
  • Handle: RePEc:wpa:wuwpur:0509019
    Note: Type of Document - pdf; pages: 4
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    References listed on IDEAS

    as
    1. Richard K. Green & Amy Crews Cutts & Yan Chang, 2005. "Did Changing Rents Explain Changing House Prices During the 1990s?," Working Papers 0005, School of Business, The George Washington University.
    2. Theodore M. Crone & Leonard I. Nakamura & Richard Voith, 2004. "Hedonic estimates of the cost of housing services: rental and owner-occupied units," Working Papers 04-22, Federal Reserve Bank of Philadelphia.
    3. Meese Richard & Wallace Nancy, 1994. "Testing the Present Value Relation for Housing Prices: Should I Leave My House in San Francisco?," Journal of Urban Economics, Elsevier, vol. 35(3), pages 245-266, May.
    4. David E. Lebow & Jeremy B. Rudd, 2003. "Measurement Error in the Consumer Price Index: Where Do We Stand?," Journal of Economic Literature, American Economic Association, vol. 41(1), pages 159-201, March.
    5. Morris A. Davis & Robert F. Martin, 2005. "Housing, house prices, and the equity premium puzzle," Finance and Economics Discussion Series 2005-13, Board of Governors of the Federal Reserve System (U.S.).
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    House Prices; Housing; Rents; CMHPI; Capitalization Rates;

    JEL classification:

    • R - Urban, Rural, Regional, Real Estate, and Transportation Economics

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