We examine the sum of the net rent-price ratio plus the expected real capital gains, which is the real return to holding a house. The rent-price ratio depends on expectations about interest rates, ...

中文翻译：

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住房回报与抵押和价格冲击

我们检查净租金价格比加上预期的实际资本收益的总和，这是持有房屋的实际回报。租金价格比取决于对利率的预期，...