| Shanty town renovation is a policy to renovate the dilapidated buildings in cities.The shantytowns were first renovated in Northeast China Since 2005,it has been promoted to the areas outside the northeast.In 2009,more than 2 million sets of shantytowns have been renovated nationwide,more than 6 million sets have been renovated every year in 2014-2017,and 4 million 700 thousand sets have been renovated in 2018.In the past 10 years,the total number of shantytowns in China has been up and down to 44 million sets,which has improved the housing level of hundreds of millions of people in terms of 3 people per household.The issue of house price is a hot topic closely related to everyone.In recent years,the growth rate of house price has made more and more people who just need to purchase houses feel distressed.This article will deeply discuss the impact of shantytown transformation on house price.The starting point of this article is the history of shantytowns transformation,and the historical background of shantytowns transformation is briefly introduced.Then,from the policy perspective,the major policy documents related to the shantytowns transformation from 2005 to 2018 are sorted out,from which the attitude changes of the government departments towards the shantytowns transformation are analyzed and explained.Next,the characteristics of the 2 resettlement models are compared in detail,and the impact of different resettlement models on housing prices is analyzed from a theoretical perspective.The traditional way of shantytowns reconstruction and resettlement is physical resettlement,which results in low efficiency of micro allocation.In 2015,under the pressure of destocking,the implementation of monetary resettlement improved the micro efficiency,but with the rapid rise of housing prices.In the empirical analysis,the data of 217 prefecture level cities from 2015 to 2017 are selected,mainly including shantytown transformation scale,monetary resettlement rate,average sales price of commodity residential,regional GDP,average wages of on-the-job employees,land price,monetized resettlement s have a positive impact on the rise.However,during this period,a small number of cities,such as Anqing,implemented the third way of shed replacement and resettlement,in which the government issued"housing vouchers"(the capital certificate for purchasing resettlement housing)to the demolition households,and then the demolition households purchased housing from the real estate developers participating in the real estate vouchers settlement.The micro efficiency of the housing ticket resettlement is higher,and the government deeply participates in the resettlement,which is convenient to stabilize the house price.Using the counterfactual analysis of regression control method,it is found that the housing ticket placement in Anqing has obvious housing price suppression effect,taking into account the needs of micro efficiency and macro-control.Finally,with the rapid development of urban construction land demand and urbanization,the number of land acquisition and shantytowns reconstruction projects is increasing,and the scale is becoming larger and larger.Social disputes caused by demolition often appear in the newspapers.The consumption fluctuation after the transformation of shanty towns has attracted the attention of the public and academia.Based on the latest household financial micro survey data in China,this dissertation uses multiple regression and average processing effect methods to find that the relocated households consume more than the non relocated households on the whole,but the consumption of the relocated households is heterogeneous.After the demolition,the average consumption expenditure of households renting houses decreased significantly,and the economic impact of demolition was obvious.In contrast,the consumption of families with two or more houses after demolition has not been reduced,on the contrary,the compensation for demolition has increased significantly. |
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