The housing system aims to solve the housing problems of people with housing difficulties，but due to the limitations of economic development，social system level，land supply capacity and other factors，the function and effect of the housing system need to be improved. Through the study of the 40-year history of the development of the housing system in Shenzhen，focusing on the “1+3+N” public housing system with the core content of the housing security and supply system of multi-subject supply，multi-channel security，and rent-purchase simultaneously. Analyze and sort out the basic logic of the development of the housing system，and believe that the acceleration of the legalization of housing，the outstanding livelihood of housing，and the growth of the housing rental market will be important trends for the development of the Shenzhen housing system in the future.