| The complicated interaction between real estate and national economy causes adjustment and control of real estate market becomes a complex system. Hence, it is an important research subject to clarify the relationship between real estate industry and national economy, and provide healthy development to them.To study the interaction issues between real estate industry national economy, this research combines data researching, experimental evidence, quantitative analysis, qualitative analysis, logic argumentation, and case analysis. First, it analyzes interactive function between real estate market and macroeconomics, then, inspects the economic influence caused by real estate’s periodic fluctuation. Second, the research focus on how people’s expenditure and investment affected by housing price, then, it gives a comparison form international housing market and Chinese housing market. Third, the research provides empirical analysis of Beijing’s real estate cycle and economics cycle to give conclusions.Based on the analysis, the research can conclude that: 1. Chinese housing market is in the beginning stage of development, with imbalance house areas development. Even for some areas, the development of real estate industry is over heated. 2. The increasing of owning housing properties is caused by housing price rising, which lead to a crowding-out effect rather than wealth effect. Housing price fluctuation gives a prominent influence on investment of real estate industry development and investment of house inventory in a long term. Comparing to United States, Japan, United Kingdom, the industry fields close related with Chinese real estate industry are still materialistic and traditional. Moreover, Chinese real estate industry has a strong drive effect on other related industry.Based upon the article, we provide some political suggestions: 1. when we focus on development of real estate industry, meanwhile, we can’t over fully rely on it, because from a long perspective, we shouldn’t consider real estate industry as a major composition of economic development. 2. A comprehensive assessment of how real estate industry affects macroeconomics. Though housing market increasing accelerates economic development, meanwhile, it can lead to crowed-out effect of non-housing market investment and expenditure. 3. Improving the system of real estate industry macroeconomic adjustment. When regulating currency policies, we should give a full consider how housing market influence the function of policies. Moreover, policies regulating should be consider as a long term plan. |
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