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i. If the rent-price ratio is in "equilibrium", what are its key ingredients?
ii. What factor(s) appear to explain the decline in the rent-price ratio in the Sydney market in the period 1996-2004?
iii. The mean of the rent-price ratio over a long period is sometimes argued to be a good benchmark to judge equilibrium in the housing market. In what circumstances might the mean rent-price ratio be a good benchmark?
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