Abstract: Rent-purchase equilibrium is a new direction of the future housing market development in China, which has been made clear by the central government in recent years, so as to solve the imbalance and insufficiency of the housing market. And " equal rights between buyer and tenant” has been put forward as an important policy orientation. However, under the objective background of the imbalance of public service allocation and the shortage of high-quality public resources, although this policy can increase the demand for housing rental rapidly in the short term and expand the scale of the rental market, it also stimulates many middle- and high-income households to rent speculatively, which will push housing rent up rapidly, squeeze low-income groups out of the rental market. This paper puts forward that, while increasing the balance of public service allocation and promoting the reform of various supporting systems, we should begin with a real understanding of what the housing rights is and find out the functional orientation of the housing rental market. Decoupling of the housing rights from the rights of obtaining public services, preventing the acquisition of public services from capitalizing. Only in this way, can we achieve a better housing market that all people enjoy their rights to housing.