Conversely, rising real estate prices feed into consumer inflation through what economists call “real wealth effect.”

反过来，房地产价格的上涨又拉动了消费物价上涨，这就是经济学家所说的“房地产财富效应”。

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In the meantime, the "dual ratchet effect" of consumer demand and price level triggers stable rise in real consumer demand, and the "wealth effect" strengthens the trend.

同时，消费需求与物价水平的“双棘轮效应”促使实际消费需求稳步增长，“财富效应”强化了消费需求增长趋势。

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Exchange rate disequilibrium and adjustment will affect the price of real estate by liquidity effect, expectation effect, wealth effect, spill-over effect, and credit expansion or depression effect.

汇率失衡及其调整，通过流动性效应、预期效应、财富效应、溢出效应以及信贷扩张或收缩效应等影响房地产价格。

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The other main mechanism through which falling equity prices affect the real economy is the wealth effect on consumers.

ECONOMIST: Equity markets: That sinking feeling | The