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Already reached the level of middle-income countries, urban residents in 2010 had reached a house household. Now housing supply and demand mainly in a few cities. Also, the real estate cycle is also the population cycle. In general, 20-50-year-olds is the main force to buy a house. Ten years ago the Chinese real estate market has been able to grow so fast development and population structure of this stage is about 20 to 59 people at its peak. But starting in 2012, China's population structure began to change. In 2012, China 15-59 year-old resident population for the first time declined. In 2014, China purchased a net reduction of the population of housing. With this change in population structure, China's real estate market has ended the era of prosperity, the cyclically adjusted real estate market has emerged. Plus a lot of small cities population to the cities, and urbanization and is very slow, which makes the Chinese real estate market is more pronounced cyclical adjustment. In this case, the government wants to launch a variety of bailout policies to rescue the real estate market, how much effect will not achieve. Even if only a small number of first-tier cities are also a 'supernatural power', only short-term phenomenon. In particular, there is still a lot of people rely on the growth of the Chinese economy on real estate, on the 'real estate' of the economy, it is estimated up to this point to alleviate the current pressure on growth, but in fact the future economic growth will set more many obstacles. For example, the first-tier cities in the real estate market improves, the current real estate developers will lead to the first-tier cities to seize the land, to further push up local land prices, and the auction one after another 'king.' But the first-tier cities high prices, driven by real estate developers will not only add more housing supply, leading to first-tier cities housing supply is also a serious surplus and high prices will also rise in operating costs throughout the city, so many companies and the outflow of talent. In this case, the city's real estate market will start to cyclical adjustment, but only a little later than other cities. Also, for economic growth, the government still hopes to boost the real estate market, so China's current real estate tax policy