十月国新办会议地产表态解读：财政稳地产启动，多措并举推动企稳

Investment Rating - The report maintains an "Outperform" rating for the real estate industry [1]. Core Insights - The report highlights that the government is taking measures to stabilize the real estate market through fiscal policies, including the use of special bonds for land reserves and optimizing the supply of affordable housing [1][7][8]. - The report emphasizes the importance of balancing supply and demand in the real estate market, with a focus on supporting the acquisition of existing homes and improving the supply of affordable housing [10]. Summary by Sections Government Policies - The government has announced that special bonds can be used for land reserves, which aims to reduce idle land and enhance local government and real estate company liquidity [8]. - Support measures include using special bonds to acquire existing homes for affordable housing and optimizing the allocation of funds for affordable housing projects [10]. Tax Policies - The report discusses current and future tax policies related to land value-added tax and the taxation of second-hand homes, indicating potential adjustments to promote market stability [6][10]. Market Outlook - The report suggests that the market is expected to stabilize, with improved financial performance for companies in the sector, particularly for specific developers and property management firms [1][10].