Measurement of Systemic Financial Risk Based on Real Estate Market

This paper constructs a systematic financial risk index system by selecting indicators from five aspects: macroeconomic risk, stock market risk, financial institution risk, international market risk and real estate market risk, uses the entropy value method to determine the weights of the indicators and calculates the systematic financial risk index from 2007 to 2024. The results of the study show that the systemic financial risk index has a rising trend, especially in recent years. The decline in housing prices and the slowdown in macroeconomic growth result in a significant increase in systemic financial risk. This paper provides some reference for stabilizing house prices and reducing systemic financial risk.