改革开放后,中国房地产业经历了一个从萌芽起步到发展壮大的增长过程。但这个增长过程不是平稳的增长过程,而是波动性的增长,特别表现出周期性波动增长的特点。自1981年中国房地产业形成至目前及未来一段时间,其发展过程大致经历了四个周期。如果把四轮周期作一比较,我们发现它们各有特点,尤其第四轮周期与前三轮特征差异很大。这里我们用基本建设房屋 After the reform and opening up, China’s real estate industry has undergone a process of growth from its infancy to its growth. However, this process of growth is not a steady process of growth, but rather a growth of volatility, with particular characteristics of cyclical fluctuations. Since 1981, China’s real estate industry has been formed for the present and future period of time, its development process has gone through about four cycles. If we compare the four cycles, we find that they have their own characteristics. In particular, the characteristics of the fourth cycle differ greatly from the characteristics of the first three cycles. Here we use basic construction housing