RDP 2014-06: Is Housing Overvalued? Equation (A2)

R = r m P + ( r a l t ( 1 t ) r m ) e P , MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGcbaacbiGaa8Nuai aa=1dacaWFYbWaaWbaaSqabeaacaWGTbaaaOGaamiuaiabgUcaRmaa bmaabaGaamOCamaaCaaaleqabaGaamyyaiaadYgacaWG0baaaOWaae WaaeaacaaIXaGaeyOeI0IaamiDaaGaayjkaiaawMcaaiabgkHiTiaa dkhadaahaaWcbeqaaiaad2gaaaaakiaawIcacaGLPaaacaWGLbGaam iuaiaacYcaaaa@4A92@