Research of Foreign "Housing Price-Income Ratio":Origin,Measurement and Application

The paper hackles research literature of foreign housing price-income ratio systematically from these angles of origin measurement and application. This review shows that housing price-income ratio evolves out of and is better than housing expenditure-income ratio the diversity of measurement of housing price-income ratio depends on the diversity of measurement methods of housing price and income and equilibrium models of housing price-income ratio housing price-income ratio is mainly applied to the research of housing affordability and real estate bubble. Standardization of calculation integration of equilibrium models and multi-angle of empirical study would be the directions of further housing price-income ratio research.