We construct measures of the annual cost of single-family housing for 46 metropolitan areas in the United States over … the last 25 years and compare them with local rents and incomes as a way of judging the level of housing prices …

This paper presents evidence that speculative bubbles can have sizeable effects on house prices, and on housing …

Housing demand reflects the household's simultaneous choice of neighborhood, whether to own or rent the dwelling, and … the quantity of housing services demanded. Existing literature emphasizes the final two factors, but overlooks the choice …