Real estate price goes up quickly related to other prices in China since 2004. At the same time, speculative demand increases. All of these indicate that, the risk of real estate market is accumulating and the real estate market is trending to bubbles, that is negative to the society and the economy. The research of the form and the avoidance of real estate bubbles in China is important to the stabilization and the development of real estate market and economy.The circumstance of real estate industry is created by government, and real estate market is intervened directly or indirectly by policy. Real estate market often fluctuate orderlessly, when policy change, so policy is significant to bubbles.Real estate policy bubbles is the unmarket warp of housing price, when the change of policy is led into real estate market. We analyze real estate policy bubbles through real demand, land supply and capital, and validate the history and actuality of real estate policy bubbles in China this yeas. Finally, we give out the principle and suggestions to prevent bubbles. |