“货币幻觉”与房价虚涨实涨——质疑“房价虚涨论”

Money Illusion and House Price Rising

在房价不断上涨的现象面前,房价上涨源于"货币幻觉"的观点具有一定影响。通过对房价上涨是虚涨还是实涨的分析,从而说明"房价虚涨论"的片面性。实际情况是,"货币幻觉"对房价上涨的影响是短暂的;收入的增长幅度低于房价的上涨幅度等因素,决定了房价是实涨而非虚涨。"房价虚涨论"的危害在于,如果房价上涨被"房价虚涨论"所误导,将会影响政府抑制房价过快上涨政策措施的制定和实施,也将对居民的住房投资和消费产生负面影响。

With the housing Prices rising,which is from the viewpoint of＂money illusion＂has certain effect.Analysing the money illusion to housing prices rising is the actual increase or inflation to explain＂housing prices inflation＂one-sidedness.Actually there are two reasons show the housing prices rising is the actual increase,not inflation.One reason is that money illusion just has a short influence to housing prices rising,and the other is that income growth rate is lower than that the housing prices rising.The existence of＂housing prices inflation＂has certain harms.If housing prices rising is misled by people who think＂housing prices inflation＂,which will affect government to make policies and measures to restrain housing prices rise rapidly and has some negative effects to the residents＇investment and consumption.