OER versus home prices
Unless home prices fall quite a bit more there will still be upward pressure on OER (owner equivalent rents), a major component of core CPI.
March 6, 2008
Unless home prices fall quite a bit more there will still be upward pressure on OER (owner equivalent rents), a major component of core CPI.
Looks like it will take a very large drop in home prices to slow the ‘pull’ on owner’s equivalent rent (the basis for the CPI