Real estate is a comprehensive and complicated concept. Physically, it is composed of buildings and land. Land can be divided into undeveloped land and developed land. Buildings are attached to and combined with the land. Building refers to the product of artificial construction, including houses and structures. Real estate is both an objective material form and a legal right. The former refers to real estate and real estate, including land and permanent buildings on land and their derived rights. Real estate refers to all kinds of houses built on land, including residential shops, factories, warehouses and office buildings. Real estate refers to land and certain space above and below it, including all kinds of underground infrastructure and ground roads. Real estate is also called real estate in economics because of its fixed position and immovability. There are three forms of existence: land, buildings and houses are one. In the auction of real estate, there are also three auction objects, namely, land (or land use right), material entities and their rights and interests in the state of integration of buildings and premises. The essence of real estate in the legal sense is a kind of real right, which refers to various economic interests contained in real estate entities and various rights formed therefrom, such as ownership, use right, mortgage right, mortgage right, lease right and so on. Because it is closely related to the government's fiscal revenue and the government's excessive currency after 2008, China's real estate began to develop abnormally after 2008, which caused a serious impact and burden on the city's industry and commerce and citizens' lives.