US: a trade-off between house prices and rents?

Real estate prices have risen by more than 13% over the past year, a record since 2005. Over the same period, the increase in rents is estimated at around 2%, its lowest level since 2011. Is such a divergence abnormal, and if so, how will it be absorbed (price curbs or rent increases)? Shelter services prices are generally fairly inert, but given their weight in the CPI (nearly a third), an upward movement would not go unnoticed and would make the Fed's task trickier. Current pri...