Rents should begin to decelerate as the demand for owner-occupied housing stabilizes and the supply of rental units increases.

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During the 1980s the proportion of owner-occupied housing in Putney rose by a fifth, twice the national average increase.

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Later phases of the project will likely include commercial offices, retail buildings and both rental and owner-occupied housing, the developer and public officials said.

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People under 44 own, again, just 15% of owner-occupied housing.

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Because the asset price method can lead to inappropriate results for goods that are purchased largely for investment reasons, the CPI implemented the rental equivalence approach to measuring price change for owner-occupied housing.

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It excludes entirely the cost of owner-occupied housing.

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While the big firms are likely lining their own pockets by doing so, Shiller says they are also doing a service by converting a chunk of the existing housing stock from (potentially underwater) owner-occupied to rental units.

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