an increase in rental supply. Absent the credit supply contraction, annual rent growth would have been 2.1 percentage …

housing rent index (RRI) developed by Ambrose et al. (2015), we compute the RRI-based Taylor rule for the period from 2000 to …

dataset of 436,000 rent observations, we build new indices of housing rents, quality and inequality, and relate these to … changes in wages and population. Long-term growth in real rent prices has been limited. Before 1900, markets were unregulated … and rent prices and wages rose in tandem when cities grew, while housing quality and inequality increased. After 1900 …

We consider which factors determined the price-rent ratio for the housing market in 18 U.S. metropolitan areas (MSAs … model separates the price-rent ratio for a given market into unobserved components related to the expected real rent growth … component that captures non-stationary deviations of the price-rent ratio from its present-value level. Estimates for the …

to decompose the rental yield into three components: expected future rent growth, cost of capital and risk premium of … components. Our results show that the cost of capital is playing a vital role in all the four major cities, while the future rent …