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The line charts a house price index called the house price to rent ratio, a common way of determining the value of residential housing-often compared to a stock market price to earnings ratio. Another repeat sales index, the quarterly House Price Index, prepared by the Office of Federal Housing Enterprise Oversight, includes only sales with conforming loans from Fannie Mae and Freddie Mac. 7 percent, according to the OFHEO house price index cited by Seiders during the teleconference. |
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