This article seems to be making the assumption that price-to-rent, price-to-earnings and price-to-transaction-fees ratios should all naturally converge to the s

This article seems to be making the assumption that price-to-rent, price-to-earnings and price-to-transaction-fees ratios should all naturally converge to the same amount. I don't see any plausible justification for this assumption, in fact it seems like it is trivially disproved. The US dollar has no transaction fees, so it's price-to-transaction-fee ratio is infinite. This whole article is based on a false premise.