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伊犁翻译公司关键字：Real estate wealth effect of the increasing influence, this paper analyzes the content of the wealth effect of real estate, real estate wealth effect analysis of the six conduction channels. This paper argues that the real estate wealth effect is more obvious than the stock market翻译市场行情价格多少钱 wealth effect; over time and the continuous development of real estate financial market翻译市场行情价格多少钱s improve, the real estate wealth effect will become increasingly important; we must be concerned about the real estate wealth effect both positive and negative affect, and wary of the expansion of the real estate bubble burst.Keywords: real estate wealth effect of consumption of transmission channelsFirst, the meaning of real estate wealth effectAs an important part of a country's wealth in real estate, is an important investment target various types of investors, but also a major component of household wealth, while the real estate itself can also be attributed to consumer durables. This refers specifically to the residents within the meaning of residential real estate assets, not including retail and office buildings and other real estate, residential real estate accounted for as 60-70%.From the national economic performance, global household wealth more closely linked with real estate. Although the late 1990s, American families was more than the stock holdings of its own housing assets, but since 2001, the worldwide real estate market翻译市场行情价格多少钱 continues to heat up. For example, in 2002 the stock of assets owned by U.S. residents (held directly or through mutual funds hold) valued at approximately $ 11 trillion, but the property合理翻译收费 value is $ 1.4 trillion. The data show that in developed countries in 2002, the value of stocks owned by individuals 23 trillion dollars, with real estate valued at $ 40 trillion U.S. dollars [1]. In recent years, China's real estate market翻译市场行情价格多少钱 has been rapid development, so that翻译公司报价 the existence of the real estate bubble growing controversy. It is in this context, a growing number of scholars began to focus on real estate wealth effect.Earlier wealth effect refers to changes in money balances, if other things being equal, will cause changes in total consumer spending, this wealth effect (Wealth Effect) is often called the Pigou effect (Pigou's Effect) or real balance effect [2]. As the composition of social wealth and the wealth of structural diversity of the changing value of personal wealth is not limited to changes in money balances, other assets such as real estate, savings, bonds and stock price changes, etc. can also cause changes in the level of wealth, Therefore, analysis of the wealth effect is gradually applied to residents of asset prices翻译价格费用 (especially stock and real estate prices翻译价格费用) on the impact of changes on consumption. Traditional theory, the wealth effect, in the modern sense, but the wealth effect of monetary balances. Modern sense of the wealth effect refers primarily to residents of the net assets (including cash, bank deposits, securities, stocks, real estate,
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