This paper studies in-depth a series of problems of “the real estate is the virtual economy and real economy”，“industry characteristics of the long-term mechanism of the specific requirements”，“the relationship between supply and demand”，“the long-term trend”，“high prices”，“high land prices”，“speculate in real estate”，“regulatory policy objectives”，“housing policy and real estate policy” and so on. We do some theoretical thinking on the establishment of long term mechanism of China’s real estate development. We put forward the key point of building long-term mechanism of real estate in china，from the reform and improve the real estate system，adhere to market-oriented housing system reform direction，reducing the real estate control policies to strengthen the real estate development，strengthen the space management of real estate development.