break even rent from to from to %change Elasticity a) mortgage rate 3.67% 4.04% 1985 2083 0.0494 0.4937 b) home price growth 3% 3.30% 1985 1856 -0.0650 rate -0.6499 c) rent growth rate 2.50% 2.75% 1985 1963 -0.0111 -0.1108 d) investment return rate 4% 4.40% 1985 2042 0.0287 0.2872 e) inflation rate 2% 2.20% 1985 1990 0.0025 0.0252 f) property tax rate 1.35% 1.49% 1985 2044 0.0297 0.2972 ) marginal income tax 20% 22% 1985 1948 -0.0186 rate -0.1864