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近年来的房地产投资热引起了理论界的广泛关注。本文从经济均衡理论出发,分析了当前宏观经济的失衡状态,认为长期的低利率政策导致货币供应量增加是引起住房投资热的主要原因,而住房货币化政策更强化了投资与消费的失衡,刺激了住房投资行为的扩张,使收入不再是约束住房投资的最重要因素。文章指出灵活的利率政策和外部经济的均衡是宏观经济调节的主要途径。
In recent years, hot real estate investment has aroused widespread concern in theorists. Based on the theory of economic equilibrium, this paper analyzes the current imbalances in macroeconomy, considers that the long-term low interest rate policy leads to the increase of money supply, which is the main reason of housing investment fever. Housing monetization policy further strengthens the imbalance between investment and consumption, Stimulated the expansion of housing investment behavior, so that income is no longer the most important factor constraining housing investment. The article points out that the flexible balance of interest rate policy and the external economy are the main ways of macroeconomic adjustment.