在国外学习时开始研究 “周期理论” 房地产业是典型的周期性行业, 在世界各国都有周期性发展规律。1996 年我在美国麻省理工学院做访问学者时 开始研究这方面理论,当时我的指导教 师威廉姆·威顿教授是全美研究房地产 周期的权威。根据他的研究,一个典型 的房地产周期分为四个阶段:增长阶 段、成熟阶段、衰退阶段、萧条阶段, Study abroad when studying “Period Theory ” Real estate industry is a typical cyclical industry in the world have a cyclical law of development. When I was a visiting scholar at the Massachusetts Institute of Technology in 1996, I started to study this theory. At that time, my mentor, Professor William Whitton, was the authority of the nation to study the real estate cycle. According to his research, a typical real estate cycle is divided into four phases: growth phase, maturity phase, recession phase, depression phase,