一项新研究发现,房价上涨的驱动力更多地是高收入者的收入增长,而不是住房短缺。 Rising home prices are driven more by income growth among high earners than by housing shortages, a new study finds.

UC Irvine和San Francisco Fed的一项新研究发现,美国房价上涨与收入增长(特别是高收入者的收入增长)的关系比住房供应短缺更为密切。 A new study by UC Irvine and the San Francisco Fed finds that rising U.S. home prices are more closely linked to income growth—especially among high earners—than to housing supply shortages. 研究人员对1975年至2024年的数据进行分析后发现,价格超过了2000年以后的收入增长,收入增加与住房供应之间没有密切的联系。 Analyzing data from 1975 to 2024, researchers found that prices outpaced income growth after 2000, with no strong connection between income increases and housing supply. 相反,较富裕家庭对住房改造或房地产投资的需求似乎促使价格上涨,特别是在高成本地区。 Instead, demand from wealthier households upgrading homes or investing in property appears to drive price increases, particularly in high-cost areas. 虽然人口增长与新建筑相关,但研究表明,解决可负担性问题可能需要解决收入不平等和市场动态问题,而不是仅仅侧重于建造更多的住房。 While population growth correlates with new construction, the study suggests that addressing affordability may require tackling income inequality and market dynamics rather than focusing solely on building more homes.