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In this paper, we implement a new measure, the rental equivalence approach, in estimating the cost of Irish housing for the purposes of the consumer price index (CPI). The cost of housing composes both the cost of owner occupier housing (OOH) as well as the cost of renting. This work, which is...
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The gap between market rent and the price of shelter was 6.6 percent larger in December 2023 relative to December 2019 … this question. When there is a positive market-shelter gap, the price of shelter grows faster and market rent grows slower … until the gap closes, which takes about five years. Faster shelter‐price growth and slower market‐rent growth each explain …
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