一、引言2007年美国次贷危机和2008年全球性金融危机的爆发,把主要国家政府和经济学家的目光牢牢地集中在房地产信贷领域。无论在发达国家还是发展中国家,房地产业的发展都高度依赖银行信贷,无怪乎被称为“第二金融”。采用金融手段,尤其是货币政策手段对房地产市场进行宏观调 I. INTRODUCTION The outbreak of the subprime mortgage crisis in the United States in 2007 and the global financial crisis in 2008 have firmly focused the attention of major national governments and economists in the field of real estate credit. No matter in developed countries or developing countries, the development of real estate is highly dependent on bank credit. It is no wonder that it is called “second finance.” The use of financial instruments, especially monetary policy measures macro-adjustment of the real estate market