Based on life cycle hypothesis, this paper uses the real estate price index and consumption as well as per capita income of the annual data from 2002 to 2012. Constructure the wealth effect of the real estate industry model and empirical study of the impact of real estate prices for urban per capita residents consumption. The empirical results show that with the increase of Chinese economy and income, the real estate wealth have impact on residents consumption, but the Chinese real estate market does not have the real estate wealth effect. Through the empirical analysis we find that utilizing ...
