广州房地产泡沫实证研究

从房价收入比、房地产开发投资增幅与GDP增长速度比、商品房空置率、房地产企业的财务状况指标、房地产开发投资资金来源、城市居民消费价格指数与房屋价格指数比等多个泡沫指标比较来看：广州房地产市场在1998--2004年整体运行平稳，但是，个别年份存在泡沫威胁，出现投资过热、商品房积压等现象。而加强房地产信贷和土地出让监控、建立房地产信息发布机制、提高房地产市场准入门槛将是缓解积压房，抑制房地产市场膨胀的有效手段。

Authentic Research on Real Estate Foam in Guangzhou

From several foam index such as the rate of house price and income, the rate of investment increasing range of real estate and increasing speed of GDP, the rate of empty commercial houses, the targets of real estate enterprises' financial position, the source of investment and the rate of the index of citizens' CPI and HPI, the real estate in Guangzhou function has been steady in 1998-2004. However, there is threat of foam in special years. And to strengthen the supervision and control of the real estate credit and land sell, establish a system of information releasing and raise the threshold of real estate market will be good ways to relieve the house overstocking, and to hold the expansion of real estate market.