最近网络有一条热传的段子“股民买股十年远输买房，见了炒房的不好意思打招呼”。

Recently there is a network of heat transfer talks“Investors buy shares 10 years far lose to buy a house，See the real estate market will embarrassed to say "hello"”。

　　眼下，随着央行三降存款准备金率、两降利息，受此影响，楼市开始回暖，而股市仍是一副“熊样”。此时，你是选择买房，还是买股？

For now，As the central bank implements three drop deposit reserve rate、Two down interest，Affected by this，Property market began to return to，And the stock market is still a vice“The bear kind”。At this time，Are you choose to buy a house，Or buy shares？

　　为了说明问题，笔者举两个身边真实的投资案例：一位是较笔者年长的亲戚，普通上班族，他在2007年把一套前两年买的、位于福州金山的三居室房子抛掉，2008年又用那笔钱在鼓楼区买了面积更大的顶楼复式。节奏踩得如此精准，这位亲戚的投资理由很简单：2007年银行限制贷款，2008年银行则开始大举放贷。

To illustrate this，The author raise two side real investment case：One is a the author older relatives，Ordinary office worker，In 2007, he put a set of two years ago to buy、The three-bedroom house in fuzhou jinshan flung away，2008 years and used the money to buy in the area's more big attic double entry。On such a precise rhythm，The relatives of investment for a very simple reason：In 2007 the bank lending restrictions，In 2008, the bank would start aggressively lending。

　　另一位则是笔者的同事，一位非财经人士，她买基金从来不凑热闹，都是等到熊市时银行营业厅异常冷清时才买。如此简单的投资方式，却让她屡次抄到市场大底。正应了巴菲特那句名言：在别人恐惧时贪婪，在别人贪婪时恐惧。

Another is the author's colleagues，A person of finance and economics，She buy fund never join in the fun，Are all wait until a bear market bank business hall when abnormal cold and cheerless before buying。So simple investment，But let her often copy to market bottoms。Is the buffett that should be famous words：In others fear greed，In others fear when greed。

　　按照前者经验，眼下应该是炒楼良机，不过这句只说对了一半，准确地说，应该是刚需和改善性需求出手的时候了，而对于投资楼市，笔者仍奉劝且慢。倒不是担心楼价会跌，主要考虑到高层对楼市调控口风仍紧，投资所面临的政策风险太大了，加之高层对楼市的调控目标是“不能大涨，也不能大跌”，所以投资楼市要付出极大机会成本。现在放眼过去，前期价格出现大跌的投资品种比比皆是，如股市等，而楼市前期仅仅是微跌。哪个机会更大，显而易见。记住一句话：“捡便宜，始终是价值投资最简单有效的实现方式。”

According to the former experience，Now should be fry building the good opportunity，But this sentence said is only half right，Accurate to say，Should be just need to improve and sexual needs release the shot，And for investment in the sector，The author still advise wait a moment。Not worry property prices will fall，The main consideration to a high market regulation of lights still tight，The investment policy of facing the risk is too big，Top of the property market and to control target is“Can't surged to，Also can't drop”，So investment property market to his great opportunity cost。Now look to the past，The prices have plunged the investment products can be found everywhere，If the stock market, etc，And the housing market is only slightly down。Which is more likely to，obvious。Remember a word：“Pick up cheap，Always is the most simple and effective value investment implementation。”

　　至于股市，近日媒体报道，由于投资者的绝望，近两月平均每天有1500人销户；大盘从1664点上涨至眼下，涨幅已经跌回了2/3；有些股票跌得甚至比2008年更低……这些都说明市场恐惧气氛空前。不过仅凭此就建议大家抄底股市，显得轻率了。笔者不相信“2132点是钻石底”的说法，不过倒是赞成经济学家鲁政委提出的观点“股市不是‘晴雨表’，而是‘水位计’”。随着央行三降存款准备金率、两降利息，它对股市正效应在不断累加。据昨日媒体报道，7月上半月四大行信贷环比增一倍，银行已经在“放水”了，大家对2009年那波上涨行情该记忆犹新吧。此时，你还犹豫什么？

As for the stock market，Recent media reports，As investors desperate，Nearly two months on an average day, 1500 people sell a door；The 1664 points to the rising from，Or has dropped back to 2/3；Some stocks to fall even more than 2008 low...These show that market fear an unprecedented atmosphere。But with only this we suggest you copy the stock market，Appear the thoughtless。The author don't believe“2132 point is the bottom of the diamond”that，But it is in favor of the economist lu commissar put it“Stock market is not‘barometer’，but‘Water meter’”。As the central bank implements three drop deposit reserve rate、Two down interest，It to stock market is in the continuous accumulation effect。According to media reports yesterday，July beginning four credit line November and one times，The bank has been in“water”the，Everyone to the 2009 that rises the fresh market it。At this time，What do you hesitate？