RDP 2014-06: Is Housing Overvalued? Equation (2)

u s e r c o s t = C o s t / P = r + c + s + d π . MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaGaamyDaiaado hacaWGLbGaamOCaiaaykW7ieGacaWFJbGaa83Baiaa=nhacaWF0bGa eyypa0Jaam4qaiaad+gacaWGZbGaamiDaiaac+cacaWGqbGaeyypa0 JaamOCaiabgUcaRiaadogacqGHRaWkcaWGZbGaey4kaSIaamizaiab gkHiTiabec8aWjaac6caaaa@501F@