this paper analysis the financing pattern of farmers housing reconstruction after the "512" catastrophe based on the institutional economics,we found the problem including target group mixture and moral risk problem during the process of farmers housing reconstruction,also we found that active land element and attract financial capital through the methods of commercialization and marketization based on the research of leverage effect of financial expenditure could fasten the reconstruction of farmers'house,finally,we set out the policy suggestion which could attract the capital. <<