The Rent-Price Ratio for the Aggregate Stock of Owner-Occupied Housing

By Morris A. Davis, A. Lehnert, Robert F. Martin. 2008

240 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/6761a459ec9581e287f75618472cad6f645f42ba

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

Citations in the corpus

Dating the Timeline of Financial Bubbles During the Subprime Crisis (2011, unknown): “The quarterly rental data are imputed using the method of Davis, Lehnert, and Martin (2008) and are linearly interpolated to a monthly frequency.5 The ratio between the two series is the first time series we use.”
Household Expenditures, Wages, Rents (2011, background): “i . ( 10 ) Plugging this equation into the solution to the agent’s optimal housing choice then”
What moves housing markets: A variance decomposition of the rent-price ratio (2009, methodology): “We then use micro data from the 2000 Decennial Census of Housing (DCH) to benchmark the level of the rent-price ratio in 2000, employing a procedure described by Davis et al. (2008). This benchmarking is required to obtain values for ρ and k in equation (2) for each MSA.”
Housing, Finance and the Macroeconomy (2014, unknown): “An example of an estimate of aggregate price-rent ratios taken from Davis, Lehnert, and Martin (2008) is shown in figure 4.10 The figure shows a slightly increasing ratio of prices to rents prior to 2000, a massive surge (2000-2006) and collapse in the ratio (2006-2010) during the housing boom and…”
Why Has Home Ownership Fallen among the Young (2009, unknown): “Davis et al. (2008) find that the price–rent ratio was essentially the same in 1980 and 2000.”
Forecasting real estate prices (2012, methodology): “An average implied rent and a rent-to-price ratio series for the Case-Shiller and FHFA indices has been constructed by the Lincoln Institute based on the methodology of Davis, Lehnert, and Martin (2008).15 15The data are downloadable at http://www.lincolninst.edu/resources/.”
Housing Collateral and Entrepreneurship (2013, unknown): “I: Elasticity of Rents to House Prices - Evidence from the US The data on average house prices and rents come from Davis et al. (2008); It is available from http://www.”
Implications of US Tax Policy for House Prices, Rents, and Homeownership (2018, methodology): “Davis et al. (2008) use Decennial Censuses of Housing surveys between 1960 and 1995 to construct a quarterly time series of the rent-price ratio for the aggregate stock of owner-occupied housing in the United States.”
Hot and cold seasons in the housing market (2014, unknown): “In the UK, the average gross rent-to-price ratio is roughly around 5 percent per year, according to Global Property Guide.43 For the US, Davis et al. (2008) argue that the ratio was around 5 percent prior to 1995 when it started falling, reaching 3.5 percent by 2005.”