[摘　要]　房地产是资本密集型行业，在可支配收入水平较低，房价偏高的条件下，金融政策的变化对房地产市场的影响非常大。近几年，中国房价走势不合理，其中有房地产商、国家相关政策、中国国情的原因，然而，金融手段的杠杆作用及金融市场的不健全应该是刺激房地产经济虚假繁荣的主要原因。
[关键词]　房地产,刚性需求,供需结构,资本市场
Abstract: Real estate is the capital crowded industry. Under the condition of low spendable income level and high house price, financial policy change effects greatly to the real estate market. Recent years, Chinese house price trends irrational because of land agent, national policy and China’s actual conditions. However, the financial method’s leverage and the unperfect money market should be the main reasons that stimulate the real estate economy to show false prosperity.
Key words: real estate; rigid demand; supply and demand structure; capital market
建筑经济，2008（5）：43-45