房地产英文翻译

Housing Is Still Underpriced被低估的房价After rising at a quick pace for the last five years, housing prices are now at a plateau according to some. Housing bubble believers frequently point to the fact that housing prices have run up while rents have remained relatively flat, and claim that the disparity must be corrected by a decline in housing prices. Analyzing the purchase price of a given home against the price it fetches in rent though shows that housing still remains a great investment with much room to the upside. In fact, the P/E ratio of housing is currently below most stocks when it should be higher due to a decreased risk factor. Even in the most overpriced markets, the price of housing is backed up by solid fundamentals.过去五年，房价持续快速增长，而如今，房价处于稳定期。

那些坚信会出现房地产泡沫人往往会指出这样一个事实：即使房租保持相对平稳，房价依旧会高涨。

同时，他们坚信，房价下跌可以阻止这一矛盾。

通过分析对比给定的房屋售价与其全部租金，购房仁是最好的投资，因为房价有很大的上升空间。

实际上，购房的市盈率本应随着投资风险降低而增高，而如今的市盈率却低于许多股票价。

尽管高估了楼市，但房价有坚固的基础作为后盾。

Price / Earnings Ratio市盈率Stocks are traditionally valued based upon their earnings. The most common metric for evaluating stocks is the Price / Earnings ratio (P/E). P/E takes the current market price of a stock and divides it by the share of yearly earnings that single share represents. For example, MSFT (Microsoft) currently trades at 27 with earnings per share of $1.18. This computes to a P/E ratio of about 22.9. P/E ratios of established DOW companies are typically in the mid 20s.我们往往根据股票赢利估算股票价格。

估算股票价格最常见的度量标准就是市盈率。

市盈率是一只股票现在的市场价格，除以按照一个季度（年度）这算的年收益。

比如微软公司，股价27，每股收益1.18美元。

这样推算出的市盈率为22.9。

二十世纪二十年代中期陶式化工公司的市盈率非常具有代表性。

Apples to Apples“一对一”的可比性We can use a similar metric for evaluating housing prices. A typical house in the Bay Area sells for $700,000 and can be rented for about $2,800 per month. Yearly, this sums to $33,600 collected in rent and a P/E of 20.8. The P/E ratio of houses in even the most expensive of markets is currently very close to 20. Many mid-priced markets have P/E ratios closer to 15.我们可以用相似的衡量标准来估算房价。

一幢在海湾地区的标准房屋，售价700,000美元，每月租金为2,800美元。

这撞房屋一年的租金累计算起来为33,600美元，市盈率为20.8。

即使房屋在价格最高的时候，它的市盈率也接近20。

许多中低价位的楼市，市盈率接近15。

Using P/E, it is clear that housing is not overvalued compared with stocks. A dollar invested in the housing market today returns more each year than a dollar invested in MSFT. Clearly if a bubble exists in the housing market then there must also exist a bubble in the stock market. Do those that advocate the existence of the housing bubble also claim that a stock market bubble currently exists?通过市盈率，我们可以清楚的看到，和股票相比，房市并没被高估。

与投资到微软公司的一美元相比，如今每年投资到房市的一美元获得的回报会更多。

显而易见的是，如果房地产市场存在泡沫，那么，股市肯定也存在泡沫。

是否那些坚信房地产泡沫的人也相信股市中存在泡沫呢？Higher P/E for Housing更高的房市市盈率Housing trading at a discount to stocks represents a great opportunity for homebuyers because based on fundamentals, housing prices should command a higher P/E than stocks. Traditionally, solid established companies have commanded a higher P/E ratio because there is less earnings risk with those companies. Microsoft is much less likely to go bankrupt tomorrow or drop in price than the latest .com startup, so investors are willing to pay more for MSFT.对于购房者来说，股市中折价销售的房屋是一个很大的商机，因为按照基本面计算，房价比股价的市盈率更高。

传统意义上说，可靠的已成立公司需要更高的市盈率，这样，这些公司的收益风险就会减少。

微软公司近期几乎不可能破产或降价。

因此，投资者十分愿意投资微软。

Housing is a more solid and less risky investment than even the least risky of stocks. Rent prices (earnings) fluctuate very little when compared with corporate earnings. In addition, housing prices fluctuate much less than stock prices. This remains true even in the wildest housing bubble dreams of bubbleheads. In the stock market, equity can drop 20% overnight when a company issues a poor earnings report or the market crashes. Housing will never drop 20%, not even in a single year, bubble or not. All of these facts mean that investors should value housing at a greater earnings multiple than stocks, meaning housing currently represents a great investment value.与股市中风险最小的股票投资相比，房价更加稳固，更少风险。

与公司收益相比，租金（收益）波动更小。

此外，房价的波动比股票价格波动小得多。

尽管房地产泡沫幻想如此狂热，如此愚蠢，房价波动也很小。

在股市中，当某家公司发布了糟糕的收益消息，或者市场倒闭，股票价格会一夜间骤降20%。

而在房产业，无论是否出现了房地产泡沫，房价都不会下降20%。

这一切都说明了，投资者通常认为，投资房地产比投资股票的收益多几倍。

这意味着，房产业如今具有很大的投资价值。

Now let’s g et back to the earnings side of housing – rent prices. Rents have been relatively flat in recent years, and doomsayers claim that this indicates housing prices must fall. I see it as just the opposite – rent prices will be forced upward, which will lead housing prices to rise even more.现在，让我们回到房地产收益方面的话题---租金。