本文主要研究房产泡沫相关的两大问题:一是房产泡沫的定义和计量问题;二是调控房价的政策分析问题。为解答第一个问题,本文从房屋市场活动特点出发,对房产的基本价值给出准确定义,从而定义房产泡沫并分析房产泡沫的产生过程。同时,通过理论分析,建立模型解释房屋交易市场和房屋租赁市场的活动特征,以及两市场的相互关系,提出房产强泡沫和弱泡沫的定义和主要特征,最终提出计量房产泡沫程度的房产泡沫系数R。对第二个问题,本文在理论模型分析的基础上,联系中国实际调控房价的相关政策进行分析,最终得出房产税、增值税和遗产税为调控房价最有力的手段。 This article mainly studies two major issues related to the real estate bubble: one is the definition and measurement of the real estate bubble; the other is the policy analysis of the regulation of housing prices. In order to answer the first question, this article starts with the characteristics of housing market activities, and gives an accurate definition of the basic value of real estate so as to define the real estate bubble and analyze the real estate bubble. At the same time, through the theoretical analysis and the establishment of a model to explain the characteristics of the activities of the housing transaction market and the rental market, as well as the interrelationship between the two markets, the definition and main features of the real estate bubble and weak bubble are proposed. Finally, the real estate bubble coefficient R. On the second issue, based on the analysis of the theoretical model, this article analyzes the relevant policies of China’s actual regulation and control of housing prices, and finally concludes that the real estate tax, value added tax and estate tax are the most powerful means of controlling house prices.