André, Christophe; Gil-Alana, Luis A.; Gupta, Rangan - In: Applied Economics 46 (2014) 18, pp. 2127-2138
Housing price-to-income and price-to-rent ratios are among the most widely monitored indicators of housing market conditions. While these ratios tend to fluctuate around a constant level or a mild trend over the long term, they also tend to deviate from these benchmarks for protracted periods....