房价较快上涨并不总是意味着房地产市场与经济基本面相背离,需要结合房价的影响因素,采取科学的方法和指标进行测度。常用的测度方法有三种:一是计量经济模型,二是房价收入比,三是房价租金比。其中,计量经济模型方法受数据质量和模型估计稳健性的影响较大,容易造成结果的不稳定。本文建议选用房价收入比和房价租金比作为房地产市场与经济基本面协调性的测度方法,但并不认同目前流行的关于两个指标合理区间的说法。 Rising house prices do not always mean that the real estate market and the economic fundamentals away from the need to combine the impact of housing prices, adopt scientific methods and indicators to measure. Commonly used measurement methods are three kinds: First, econometric model, the second is the price income ratio, the third is the rent price ratio. Among them, the econometric methods are greatly affected by the data quality and the robustness of the model estimation, which may easily lead to the instability of the results. This article suggests choosing the price-to-income ratio and the rent-to-price ratio as the measure of the coordination between the real estate market and the economic fundamentals, but does not agree with the prevailing notion of a reasonable interval between the two indicators.