金吾财讯 | 据报道，美国10年期国债收益率（US10Y）现已超过独栋住宅租赁资本化率。Reventure App首席执行官Nick Gerli表示，这一现象意味着购置投资性房产的机会成本转负。Nick Gerli称，美债收益率持续走高彻底改变了房产投资的相对吸引力。过去四年，美国投资购房人数及楼市投资规模均下滑50%，并已对部分地区房价形成明显冲击。历史数据显示，2009年至2020年代初期，美国租房资本化率长期高于美债收益率，利差虽有波动但始终维持正向，两大指标在2025至2026年逐步收敛，最终在今年9月完成趋势反转，无风险美债收益正式超越房产租赁现金流回报。
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