What is Bernanke saying about housing?

posted by
February 12, 2012
EconLog
by Arnold Kling  
Posted in Commentary

"To a first approximation, housing is fungible. By that, I mean that a given rental unit can be sold to an owner-occupant and a given owner-occupied unit can be rented out. To the extent that housing is fungible, it is nonsense to speak of the rental market and the owner-occupied market as obeying different conditions of supply and demand." (02/12/12)

http://econlog.econlib.org/archives/2012/02/what_is_bernank.html  

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