运用经济学中的效用理论对住房实物分配制度和住房公积金制度对职工住房消费效用的变化进行了分析 ,指出了住房实物分配制度会导致住房消费低效用和住房分配低效率 ,而住房公积金制度能够实现住房合理消费及消费资金的有效配置 ;运用数理经济分析方法论证了住房实物分配制度易导致住房需求无节制的严重后果 . Utilizing the utility theory in economics, this paper analyzes the change of housing utility distribution system and housing provident fund system to the employee housing consumption utility, and points out that the housing distribution system will lead to inefficient housing consumption and inefficient housing distribution. However, housing provident fund system Which can realize the rational allocation of housing and the efficient allocation of funds for consumption. The mathematical and economic analysis method is used to demonstrate that the system of physical distribution of housing can easily lead to serious consequences of uncontrolled housing demand.