In the third chapter, I utilize real estate integration boom index model and analyze the specific process and main characteristics of the cycle of real estate industry by positivist research.

第三章则利用房地产综合景气指数模型，从实证角度分析了房地产周期波动的具体运行过程和主要特征。

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Of course, the real estate industry project billing cycle is also a factor.

当然，房地产行业的项目结算周期也是一个因素。

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FOUNDER SECURITIES Ren Zeping said that the small real estate cycle was over, this round of rising prices is near the end.

方正证券任泽平表示，房地产小周期结束，这轮房价上涨接近尾声。

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This is the stuff of which bull markets are made: A favorable credit cycle, real estate recovery and government reform are all underpinning strength in Japanese equities.

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