观察世界发达大国发展经验,房地产都是经济的重要组成部分。房地产的健康发展有助于促进国民经济较快增长,但非理性的房地产泡沫也会对经济社会构成系统性风险。中国近十几年来通过房地产撬动金融资源,催生了一座座现代化新城,加速推动城市化进程,但也带来了新的挑战。部分城市尤其是三四线城市房地产供需缺口加大,“去库存”压力陡增,由此滋生的土地财政及金融风险等压力凸显。在此背景下,房地产“去库存”成为宏观政策的重点与难点,2015年中 Observing the development experience of developed countries in the world, real estate is an important part of the economy. The healthy development of real estate will help promote the rapid growth of the national economy, but the irrational real estate bubble will also pose a systemic risk to the economy and society. In recent decades, China has levered its financial resources through real estate, spawned a modern metropolis and accelerated the process of urbanization. However, it also posed new challenges. In some cities, especially in the third and fourth tier cities, the gap between supply and demand of real estate has increased, and pressure on inventories has risen sharply. As a result, the financial and financial risks of land breeding have become more and more obvious. In this context, real estate “to stock ” has become the focus of macroeconomic policies and difficulties in 2015