This year has witnessed dramatic adjustments in China's real estate industry and it is said that the industry has passed from its "golden age"to “silver age”. Nonetheless, ANBOUND senior researcher He Jun suggests that profound changes are evolving in China’s real estate industry. In view of the tremendous problems faced by the whole industry, such as debt, inventory, capital chain, land market, correlative industries, decreased demand increment, etc., the real tough time for the country’s real estate industry is yet to come and we will have a even tougher time in the coming year. Therefore, it is not a “silver age”that China’s real estate industry is stepping into, but an “iron age” that is quite vulnerable to rust.