| Bubble means a situation that the price of a capital is far beyond its foundation value and it offen occurs in real estate market because of real estate's supply constraints, According to the EHM(Efficient Markets Hypothesis), bubble is not reasonable, but we always have to face the bubbles—espacial real estate bubbles and it usually bring trouble to economy. So, people have lucubrated the bubbles for many years and now we have had some theory to explain bubbles.In recently years, China's real estate develops very fast along with the economy's fast developing for severl years. The price of China's real estate has mounted fearfully and bubbles have occured by now. At the same time, the world economy may suffer because real estate all over the world is falling and the bubbles may bust in no time. For this, it is beneficial that we lucubrate real estate bubbles and give some helpful advices to people.This paper introduces some characters,behaviors and correlative researches of real estate bubbles firstly and give a summary about some newest bubbles'theory, lucubrate real estate thorugh some example, such as Japan's bubble economy. Then, the paper analyses the domestic real estate and give some useful advices to government and investor at last. |
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