However, being affected by internal conduction mechanism and external shocks, real estate market is prone to cycle fluctuation. Besides, because market participants are usually myopic and speculative, it can not only cause real estate market to be against the initiative of new technology and institutions but also results in a waste of social resources, which can further trigger financial crisis and influence national economy stability. During the process of explaining the fluctuation of real estate cycle and its internal formation mechanism, more and more experts are concerned about the influence of macroeconomic variable