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Or, rather, it used to: rents here are suddenly skyrocketing.
Removing implicit subsidies to rents and interest rates would cut many firms' profits and stir opposition.
In every other market the ratio of prices to rents has fallen over that period.
The ratio of prices to rents is almost 50% above the long-run average.
The ratio of house prices to rents is a sort of price/earnings ratio for property.
Our index calculates the ratio of prices to rents in 20 economies.
Relative to rents and incomes, valuations have been flat or down slightly.
Meanwhile, the ratio of house prices to rents has risen to an all-time high.
"Compared to rents in New York City, this would be a bargain," he noted.
A generation ago, kids shortened "parents" to rents, "family" to fam, "brother" to bro.
As the cost of buying rises relative to rents, new market entrants seeking housing services will increasingly opt to rent.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com