China’ s macroeconomic control always treats housing consumption and housing investment differently,which is based on the belief that housing investment involves more credit risks and is more likely to result in bank crisis,financial crisis or even economic crisis.On the contrary,housing consumption enjoys inherent priority and is so much encouraged by Chinese government.This thesis tries to regard both of them as a unity,leaving aside the restriction caused by identification of house purchase intention in traditional Chinese concept.The internal relationship among real estate price changes,credit crisis and financial crisis will be analyzed en bloc.On that basis,this thesis will predict where China’ s real estate is going under background of present financial crisis and suggest how to help China out of financial crisis with appropriate macroeconomic control. China’s macroeconomic control always treats housing consumption and housing investment differently, which is based on the belief that housing investmentraid more credit risks and is more likely to result in bank crisis, financial crisis or even economic crisis. enjoys inherent priority and is so much encourages Chinese as a unity by leaving aside the restriction caused by identification of house purchase intention in traditional Chinese concept. internal relationship among real estate price changes, credit crisis and financial crisis will be analyzed en bloc.On that basis, this thesis will predict where China’s real estate is going under the background of present financial crisis and suggest how to help China out of financial crisis with appropriate macroeconomic control.