The fact that CPI uses OER doesn’t necessarily mean oer is a good measure. During the housing bubble prices may have increased at a 17% rate while OER increased at a 4.5% rate.

I’d argue asking the question “what rate would you rent your home at” is fundamentally flawed and prone to underestimation. The answer is and always will be “the market rate for a rental in my neighborhood”. This number is generally greater than the interest+maintenance a fresh buyer would pay.

https://blog.principal.com/2017/07/06/owner-equivalent-rent-...