3min chapter

The Joe Walker Podcast cover image

Housing Bubble Week Finale: It's The Housing Cycle, Stupid! - Ed Leamer

The Joe Walker Podcast

CHAPTER

The Long Run Disconnect Between House Prices and Rents

In 2002 you published a paper titled Bubble Trouble, Your Home Has a PE Ratio 2. The idea that there can be a disconnect between rents and prices "to me cannot be discussed," he says. At the time Americans had learned rather painfully that elevated price earnings ratios on stocks eventually are going to punish you unless the earnings start to show up.

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