自2002年来,中国的房地产业进入了新一轮快速成长期,整个行业规模迅速扩大,随之而来的是房价的不断攀升。除了供求失衡、建设成本增加、地方政府的开发热情外,利率、银行及股市也对房价的高企起到了推波助澜的作用。本文试图从房地产市场与金融间的互动关系,来对当前房价普遍上涨的现象进行解读。 Since 2002, China’s real estate industry has entered a new round of rapid growth, the rapid expansion of the entire industry, followed by the rising prices. In addition to the imbalance between supply and demand, construction costs, enthusiasm for the development of local government, interest rates, banks and the stock market also played a role in fueling the high prices. This article attempts to interpret the phenomenon of the current general rise in house prices from the interaction between the real estate market and finance.