| The real estate industry as the basis of macro-economic industries, leading industries, not only relates to the economic development of countries in the world, and has become a growth point of national economy for the economic growth of countries in the world of great significance. Same real estate economy of our country are an important part of the national economy at an extremely important position, our country are a larger proportion of GDP part.With China's accession to the WTO, the domestic economy has developed rapidly, the overall macro-economic environment beginning in the second half of 2003 out of the shadow of economic contraction, the rapid growth in a cyclical upswing. High-speed growth in the macroeconomic environment, The development of China's overheated real estate industry, as well as the existence of the bubble phenomenon has also become a problem and research focus of the discussion.China's vast territory and the eastern, central and western regions of the relative imbalance in the level of socio-economic development. Regional differences in economic benefits to make the real estate industry in different regions of the environment there is very different, and this difference with the continuous development of regional economic fluctuations in the non-stop. Investment in real estate because of the number of large, relatively long investment cycle, the capacity of bad assets by the country of investment, finance, taxation, finance and land and housing policies in a greater impact, so more prone to price fluctuations. At the same time, cross-border real estate industry in the production, circulation and consumption, such as highly integrated and co-ordination of the department. Standard of living and society is also an important indicator of social security one, to a certain extent on the maintenance of social stability. In this paper, research is divided into four parts, namely the study of foreign developed countries, the successful experience of the real estate industry, as well as at the present stage of development of China's real estate situation, through the analysis of the real estate industry to identify problems in our country the corresponding countermeasures.The first part is to study the successful experience of developed countries. mainly with reference to the United States, Japan and Singapore. On behalf of the United States as developed countries, is the first real estate mortgage business, the most developed country. Real estate mortgage market, the United States after many years of continuous development and reform, has become the main financial institutions with real estate collateral, based on a variety of credit form a network of intertwined and subject to government-regulated market. Asian developed countries, Japan is also the first Asian country to enter the ranks of developed countries after World War II, Japan's rapid economic development, real estate development and the cultivation of the real estate market has become increasingly irrational and norms. However, the development of Japanese real estate market is also the case today, after several rounds of development and evolving adjusted. Japan's real estate bubble is a serious period of government through a series of measures to guide the Japanese real estate on the right track. Singapore is world-renowned "Garden State", with three major real estate policy measures: First, "Home Ownership" program; two are the Central Provident Fund system; are three complete system of housing finance institutions. Singapore through the three systems into the world to solve the housing problem on a country relatively well, the Government attaches great importance to the economic development of the entire real estate industry's regulatory role.Analysis of the second part of our country at this stage are real estate developments. In general the development of our country's real estate industry has experienced four stages of development: 1984-1989, respectively, are the recovery phase of the real estate industry, 1990-1993 phase of rapid development ,1998-2007 year "smooth" running to "overheating" stage of development, as well as So far in 2008 the "bottom" stage. 20th century 90's, the party's 14 largest real estate after the start of China's sustained rapid development. Various types of rapid growth in the number of real estate companies, real estate development investment in the rapid rise. By the end of 1993, with the implementation of the national macro-control of the real estate industry and the "economic soft landing", real estate investment growth rate fell substantially. 1997 Southeast Asian financial crisis, China's decline in external demand, economic retrenchment across the board, the Chinese real estate investment and development has played a significant inhibitory effect. After 1998, the housing system reform, financial deepening and real estate credit policies, the real estate industry to re-enter the stable and rapid development period. Since 2003, the gradual emergence of the real estate industry, "overheating" signs. By 2008, a global financial crisis sweeping the globe, the real estate industry is also in crisis. The country issued a series of timely control policy to stabilize housing prices, stimulate sales. And in the international economic environment under the influence of the real estate industry a "downturn" period.The third part is the real estate problems in our country. our country real estate gradually warmer from the beginning the real estate market, prices continue to rise substantially to the financial crisis in 2008, there is a price drop of the situation. RMB appreciation on the volatility of house prices also played a crucial role. Capital-intensive real estate market and the characteristics of a good liquidity, the investment is the ideal place for the yuan revaluation of assets will lead to substantial foreign investment into real estate, the foreign capital inflow increased the risk of fluctuations in the real estate industry to increase the bank industry risks. Cause prices to appreciate more expensive, real estate will serve as the consumer to upgrade the main focus will be in hot pursuit of U.S. residents for the purchase of increased disposable income, housing affordability improve cause of the increased demand. Residents of our country have a tendency to invest savings are the highest in the world, real estate investment less the necessary expertise, and the housing have a "tangible" features, in line with the residents of our country, "seeing is believing" the psychological tendency of personal savings so substantial investment in the real estate market is an irresistible economic and cultural situation. The abolition of Chinese exports in 2002 from the room, the difference between the domestic housing, since then, foreign investment in China real estate there is no policy barriers. Foreign investment continues to increase year after year, serious erosion of the Chinese real estate market. The existing examination and approval system of land management, as well as to carry out the demolition work is not in line with sustainable development and building a harmonious society construction goal. Financial credit at commercial banks also exist increasing the credit risk of financial problem. Lack of funds some developers or develop their own ability, through a variety of ways to get loans from financial institutions, increasing the risk of the bank. Residential building types of disorder and confusion in the market adjustment mechanism, but also real estate development in our country at this stage the main problems.The fourth part is to solve the problem of countermeasures exist. to strengthen land management, examination and approval system to ensure that the authority of government, improve the tax, credit and foreign capital access measures, norms, as well as developers to increase affordable housing and low-cost housing Construction of the five aspects of policy and other efforts.China's large population, the development of land resources can be scarce in the future real estate development process must be combined with the actual situation of our country itself, has highlighted the construction of a socialist country with Chinese characteristics to the actual needs of the people in the first place, and seriously Analysis of the demand for treatment of the broad masses of the people, and actively identify problems, solve problems and maintain the sustainable development of China's real estate industry. |
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