Swiss Economicblogs.org
On VoxEU, Gianni La Cava summarizes his research on the secular rise in the housing share of US income. In the US national accounts, income accruing to the housing sector is measured as ‘net housing capital income’, or simply, net rental income (i.e. gross rents less housing costs, such as depreciation and property taxes). This measure includes rental income going to both owner-occupiers (imputed rent) and landlords (market rent). The very detailed nature of the Bureau of Economic...
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