A Study Of Regional Differences On Urban Residents' Housing Affordability

To achieve the ambitious goal of "everyone has a room",the government must rationally allocate housing supply and demand.However,national regulations and control policies pay much more attention to the housing price rather than the housing affordability.Moreover,housing in China is controlled not only by the invisible hand of market but also by the “invisible hand” of the government.Therefore,how to improve the urban residents' housing affordability with stabilizing price under the situation in which houses are in short supply and the prices are rising,is concerned by both economics/management experts and government departments.Given that research on the regional difference of urban residents' housing affordability is still in its infancy,this dissertation attempts to explore the regional characteristics of urban residents' housing affordability,the regional correlation and difference in the Chinese context.Based on that,this dissertation could provide regional differentiation measures for improving the urban residents' housing affordability.To answer the above question,this dissertation,choosing the urban residential housing demand side as the research object 1)to identify the key factors affecting the housing affordability,2)to build an appraisal model of urban residents' housing affordability,3)to adapt cluster analysis with the help of SPSS 19.0 software,4)to use spatial econometric software Geo Da0.95 i to inspect regional characteristics and space correlation,5)and to analyze the impact of regional volatility on urban residents' housing affordability in the area by using Granger causality,co-integration test,impulse response function analysis.Compared to the previous research,the innovations of this dissertation lie in: first,this dissertation builds the dynamic evaluation model of urban residents' housing affordability with residents' disposable income and the housing consumption growth.Compared with the traditional static evaluation model,this model considers the increases of residents' income and consumption level over time,and objective data demonstrate that revenue growth rate is higher than consumption growth.Therefore,by comparative results show that the dynamic evaluation model of urban residents' housing affordability is higher than the static one.According to the results,this dissertation suggests that the "sandwich layer" residents can through the adoption of payments by increasing period of mortgage loan repayment to buy a small house to solve the housing problem.In addition,the objective evaluation of the urban residents' housing affordability will help to clearly define the housing safeguardobject and anticipate the demand of affordable housing in the area.Second,this dissertation empirically analyzes he influence path of urban residents' housing affordability within 31 provinces in China.Using spatial econometric software Geo Da0.95 I and spatial panel model,this dissertation confirmed that the urban residents' housing affordability levels on the spatial distribution has obvious positive correlation and spatial dependence.Using Granger causality,co-integration test,impulse response function analysis,this dissertation clarified regional volatility influence of urban residents' housing affordability in the area.Furthermore,this dissertation found that there is a long term co-integration relationship between the central provinces' housing affordability and the other provinces and cities.Comprehensive empirical results show that the influence path of urban residents' housing affordability moves from the east to the west,from the north and south to the central region.Based on the above research conclusion,this dissertation puts forward suggestions on regional regulation,the key regulatory,the key observation,the supporting and development policy.