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Theoretical Constraints on the Price-Rent Ratio and Other Insights from a New Real Estate Model

Richard H. Serlin, University Of Arizona

Abstract

I develop a model of the real estate market with rational informed individuals who are either liquid or illiquid. The model shows bounds on the price-rent ratio and dispels some common real estate myths. Suggestions are given for empirical tests of the models implications.

Suggested Citation

Richard H. Serlin. 2006. "Theoretical Constraints on the Price-Rent Ratio and Other Insights from a New Real Estate Model" The Selected Works of Richard H. Serlin
Available at: http://works.bepress.com/richard_serlin/5

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