根据通常的价格收入比，租金收益率与空置率来看，房地产市场很明显的存在泡沫。

Property markets have obviously shown signs of a bubble, judged by usual indicators such as the price/income ratio, rental yields and the vacancy ratio.

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1974-1976年英国因通胀导致的经济衰退期间，商业地产贬值总计45%，而租金收益率自1973至1975从5.7%上升到了8.7%。

The 1974-1976 inflationary downturn in Britain saw cumulative commercial-property losses of 45%; yields rose from 5.7% to 8.7% between 1973 and 1975.

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上周发生市场动荡时，美国短期票据曾一度出现负收益率，这意味著有些买家为美国国债的避险作用支付了“租金”。

Short-term bills briefly traded with negative yields during last week's market turmoil, meaning some buyers paid rent for the refuge of Treasurys.

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