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PriceRentRatio.pdf
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🔗 Source: andreas-mense.de
📊 Size: 1.61 MB
👤 Author: CHRISTIAN
⬇️ Downloads: 88

Summary

House prices have risen more strongly than rents over the last two decades, especially in supply-constrained "superstar cities" like London, New York, and Paris. The price-to-rent ratio has been cyclical, rising during economic booms and falling during contractions. In England, the house price-to-rent ratio almost doubled between 1997 and 2018, with a 153% increase in Greater London. The authors' model and instrumental variable-fixed effect estimates suggest that autocorrelated labor demand shocks and supply constraints explain two-thirds of the increase in the price-to-rent ratio in Greater London.

Description

House prices have risen more strongly than rents over the last two decades, especially in supply-constrained "superstar cities" like London, New York, and...

Technical Information

  • File Format: PDF
  • File Size: 1.61 MB
  • Pages: 62
  • Language: EN
  • Author: CHRISTIAN
  • Total Downloads: 88
  • Last Updated: 3 hours ago

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