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房地产业只能跟随宏观经济的波动而起伏,这一特征在我国1991年至今的经济波动周期中得到了充分的验证。本轮经济周期也是我国1988年明确土地可以合法转让,房地产业由此步入正途以来的第一个周期波动。从1991年宏观经济的启动进而扩张,到1993年中期的收缩进而衰退,房地产业都表现出与宏观经济运行的步伐惊人的一致。事实上,两者在本轮经济周期中呈现的共兴共衰的表征是具有普遍意义和必然内函的,这无论是通过考察房地产业进程
The real estate industry can only fluctuate with the macroeconomic fluctuations. This feature has been fully verified in the period of economic fluctuation in our country since 1991. The current round of economic cycle is also the first cyclical fluctuation in China since 1988, when it is clear that land can be legally transferred and the real estate industry has been on the right track. From the beginning of macro-economic expansion in 1991 to the expansion of the economy in mid-1993, the real estate industry has shown an astonishing rise in pace with the macro-economic operation. In fact, the common prosperity and inevitability of the two manifestations in this round of economic cycle are of universal significance and inevitability of internal communications, either by examining the real estate industry process