Demand-pull inflation happens when there is an abundance of money and not enough products or services to meet the demand of that money. Cost-push inflation happens when companies' costs go up and they can't keep their level of profit so they increase their prices and pass it on to the consumer. This is what we face now. How far will the prices go? When inflation gets to the point that the general public can no longer afford to buy a house or anything else they need to survive, then the housing prices start to come down.
Buying a House During Inflation
If you can see inflation happening, then buying a house could be an excellent move. If inflation is at an all-time high in real estate, you should wait to buy a house. As inflation affects lives and people need to sell their homes, they will be forced to sell for less than it was previously worth. As fewer homes are put on the market, the competition for the buyer goes up and the prices are reduced. Since there are not as many buyers who can afford to buy a reduced-price house during an inflationary period, the housing market slows down quite a bit.
As inflation increases and forces the prices of real estate down, even investors are hesitant to buy. This is because it take too long to sell the homes. If you have the money to hold an investment property for a year or so, than buying during this time is good because prices are low. Real estate is one of the first products to react to a growing economy, so as soon as things start to get better, the prices will start to go up again.
The inflation-hedging ability of real estate has generally found that when markets are in "equilibrium," the lack of space rental alternatives provides negotiating power for the landlord, who can write contracts with tenants which generate rents which either increase with inflation, or which pass through increases in operating expenses to tenants. By contrast, when markets exhibit high vacancy rates, and when tenants have numerous space rental options, the negotiating power switches to the tenant, who will move rather than accept a contract which exhibits escalation provisions tied to an inflation rate. As expected, the return vacancy relationship is generally negative and significant.
But does buying a home hedge against inflation actually hold true? To investigate this idea further, we looked at three separate data time series: National Median Home Price, Dow Jones Industrial Average (DJIA), and Consumer Price Index (CPI, a measure of inflation).As you can see, during the heavy inflationary periods of the early and late '70s, real estate did indeed provide an excellent hedge against inflation. Home prices essentially kept pace or outpaced CPI growth during these periods while the stock market stagnated. From a basic perspective, therefore, a dollar would have been smartly invested in real estate during this time. In general however, it is safe to say that real estate values are not likely to be pushed down in any material way by inflationary pressures. As diversity is the key to any long-term success in investment, real estate has to be included in any portfolio.
根據行政院主計處2010年住宅普查數據，全台的空屋率達到19.4%，換成戶數高達156萬戶，創歷年新高，其中空屋率最嚴重的是台中市26.2%，但空 屋最多的卻是新北市33萬戶，其次是桃園縣15.37萬戶。台北市，2010年的空屋是12.7萬戶，空屋率13.8%，相較於2000年，空屋10萬 戶、比率為12.2%，多2.7萬戶。空屋率跳升最快的是新北市，從2000年22萬戶的17.4%，2010年跳升到33萬戶，空屋率上升約5%，達到 22.1%。
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目前的狀況是輸入型通膨比較接近成本拉動型通膨，且大台北置空率不低利率在低檔徘徊房價在相對高點，而且央行限制貸款成數使得投資課在大台北房市比重下降成交天期亦拖長，因此一般自住者會以租代買、買在市郊通勤便利但房價相對較低的區域，房東議價能力低無法轉嫁通膨於房客，除非等待空屋率回穩房市基本面轉強，房價才會繼續攀高。
Buying a House During Inflation
If you can see inflation happening, then buying a house could be an excellent move. If inflation is at an all-time high in real estate, you should wait to buy a house. As inflation affects lives and people need to sell their homes, they will be forced to sell for less than it was previously worth. As fewer homes are put on the market, the competition for the buyer goes up and the prices are reduced. Since there are not as many buyers who can afford to buy a reduced-price house during an inflationary period, the housing market slows down quite a bit.
As inflation increases and forces the prices of real estate down, even investors are hesitant to buy. This is because it take too long to sell the homes. If you have the money to hold an investment property for a year or so, than buying during this time is good because prices are low. Real estate is one of the first products to react to a growing economy, so as soon as things start to get better, the prices will start to go up again.
The inflation-hedging ability of real estate has generally found that when markets are in "equilibrium," the lack of space rental alternatives provides negotiating power for the landlord, who can write contracts with tenants which generate rents which either increase with inflation, or which pass through increases in operating expenses to tenants. By contrast, when markets exhibit high vacancy rates, and when tenants have numerous space rental options, the negotiating power switches to the tenant, who will move rather than accept a contract which exhibits escalation provisions tied to an inflation rate. As expected, the return vacancy relationship is generally negative and significant.
But does buying a home hedge against inflation actually hold true? To investigate this idea further, we looked at three separate data time series: National Median Home Price, Dow Jones Industrial Average (DJIA), and Consumer Price Index (CPI, a measure of inflation).As you can see, during the heavy inflationary periods of the early and late '70s, real estate did indeed provide an excellent hedge against inflation. Home prices essentially kept pace or outpaced CPI growth during these periods while the stock market stagnated. From a basic perspective, therefore, a dollar would have been smartly invested in real estate during this time. In general however, it is safe to say that real estate values are not likely to be pushed down in any material way by inflationary pressures. As diversity is the key to any long-term success in investment, real estate has to be included in any portfolio.
根據行政院主計處2010年住宅普查數據，全台的空屋率達到19.4%，換成戶數高達156萬戶，創歷年新高，其中空屋率最嚴重的是台中市26.2%，但空 屋最多的卻是新北市33萬戶，其次是桃園縣15.37萬戶。台北市，2010年的空屋是12.7萬戶，空屋率13.8%，相較於2000年，空屋10萬 戶、比率為12.2%，多2.7萬戶。空屋率跳升最快的是新北市，從2000年22萬戶的17.4%，2010年跳升到33萬戶，空屋率上升約5%，達到 22.1%。
============================================
目前的狀況是輸入型通膨比較接近成本拉動型通膨，且大台北置空率不低利率在低檔徘徊房價在相對高點，而且央行限制貸款成數使得投資課在大台北房市比重下降成交天期亦拖長，因此一般自住者會以租代買、買在市郊通勤便利但房價相對較低的區域，房東議價能力低無法轉嫁通膨於房客，除非等待空屋率回穩房市基本面轉強，房價才會繼續攀高。
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