Last month, the increasing tendency of average housing price of newly built residential house in hundreds Chinese cities has expanded quickly, and on the back of the situation, the local governments intensively launched adjustment measures to control the increased price. Regarding the policy design, we focus on three core targets of housing regulation: the government has to meet the basic housing needs, to reduce speculation, and to boost the speculative capital go beyond the real estate industry. For the long-term development, China should avoid investing more economic resources in the housing industry, the economy of both the country and local shouldn't be "kidnapped" by real estate.