楼市泡沫知多少（How much is the property bubble）.docVIP

楼市泡沫知多少（How much is the property bubble） Property bubble knows how much.Txt Definition of foam Common sense tells us whether there is a bubble in judgment. It is obvious that we need to define the bubble first and find a more intuitive measure. The economist Kindleberger said the definition of bubble economy refers to the new Palgrave Dictionary of economics: the term bubble state, said casually, is a series of assets or in a continuous process suddenly increases, the prices will start to rise of the expected price, and thus attract new buyers these people generally want to reap profits through the sale and use of these assets and their ability to generate profits is not interested in. With the rise in prices, it is often expected to reverse, followed by a slump in prices and finally a financial crisis. Another definition is more concise, the economist Stieglitz said: If today the price rise is because investors believe that they will sell at a higher price tomorrow, and the basic elements and can not adjust the price, then there is a bubble. As can be seen from the above, speculation is the direct cause of the bubble. Linked to the property market, the bubble is speculative housing prices caused by rising. The so-called speculation is not to consider the needs of home and rental income, only in the process of rising prices to earn short-term arbitrage spreads. Measure the proportion of the bubble in the property market, the use of speculative funds accounted for the proportion of all housing funds. The total amount of speculative funds is dynamic, is constantly changing, every day there are speculative funds into the property market, every day there are funds out. If more funds enter than exit, the total amount of speculative funds will rise, and then push up housing prices. On the contrary, if for some reason, such as income level led to a decline in the actual purchase capacity decreased, or interest rates led to the increase in savings, lead to the rise in price