近年来国内资源、股市等都处于泡沫破灭之中,唯独中国房地产泡沫尽管存续已久、且调控连连,市场表现却异常稳定,说明中国房地产泡沫具有一定的特殊性。笔者总结出几大认识,提出房地产市场化程度不高、居民收入严重分化、房地产偏好、股市投资功能弱化、住房持有环节税费偏低等中国特有的一些因素。 In recent years, both domestic resources and the stock market have been in a bubble burst. The Chinese real estate bubble, despite its long-standing existence and its repeated regulation and control, has shown unusually steady market performance. This shows that China’s real estate bubble has certain particularities. The author summed up several major knowledge, put forward the real estate market is not high, the serious differentiation of resident income, real estate preferences, stock market investment weakening, low-cost housing holding part of the Chinese-specific factors.