中文摘要：

本文对生命周期和人力资本与家庭房产消费投资之间关系进行探索分析。对生命周期中的出生年代和年龄效应进行了区分．在出生年代效应方面．出生越早的人对投资房产的兴趣越高：年龄效应则使家庭房产的消费投资在人生命周期的一定阶段达到最大，随后降低，呈现驼峰形曲线。人力资本越高的家庭。对房产消费投资的可能性越低。生命周期与人力资本对家庭房产消费投资存在显著的交互影响．在相同出生年代（或相同年龄）的情况下，人力资本高（教育程度高）的家庭相对人力资本低（教育程度低）的家庭更不倾向于对房产进行消费投资。

英文摘要：

In this paper, we investigate relation among life cycle, human capital and housing. The earlier people was born, the stronger interests they have in house investment and consumption; The relation between age and house investment and consumption is hump-shape, as people grow older, the probability of house buying increase, in special period, the probability is max, and later, as people grow older, The interest in house investment and consumption decrease. The higher human capital, the less likely to invest in house. At last, we investigate if there are intersection between life cycle and human capital. We found intersection between cohort effects and human capital, and the same relation for age and human capital. Given the same times people was born or the same age, the higher human capital ones are less interested in house consumption and investment.