One common way of judging whether housing's price is in line with its fundamental value is to consider the ratio of housing prices to rents. This is analogous to the ratio of prices to dividends for stocks.
Janet YellenInequality has risen to the point that it seems to me worthwhile for the U.S. to seriously consider taking the risk of making our economy more rewarding for more of the people.
Janet YellenI'm just opposed to a pure inflation-only mandate in which the only thing a central bank cares about is inflation and not employment.
Janet Yellen