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and the present value of future rents. If the co-op housing market is efficient, the present value of co-op rental …-series tests of housing market efficiency. …
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a speech to the 2007 International Monetary Conference, Cape Town, South Africa (via satellite)
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a speech before the Independent Community Bankers of America's Annual Convention and Techworld, Honolulu, Hawaii (via satellite)
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remarks at the 2011 Federal Reserve Bank of Cleveland Policy Summit, Cleveland, Ohio, June 9, 2011
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. The housing downturn, however, is far from complete. Using the price-rent ratio as a guide, house prices are likely to … fall at least a further 30 percent before leveling off. Given the historic links between housing and real activity, the … measure of housing valuation. …
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