RDP 2014-06: Is Housing Overvalued? Equation (3)

P ( r + c + s + d − π ) = r e n t , MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamiuamaabm aabaGaamOCaiabgUcaRiaadogacqGHRaWkcaWGZbGaey4kaSIaamiz aiabgkHiTiabec8aWbGaayjkaiaawMcaaiabg2da9iaadkhacaWGLb GaamOBaiaadshacaGGSaaaaa@46E7@