Cotton, Christopher D. - 2024 - This version: June 2024
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 …