The Housing Settlement Mechanism Of U.S. Low-and Morderate-Income Family And China's Policy Recommendations

Housing problem has very important influence on people's livelihood, especially whether the housing of the low-and moderate-income groups can be guaranteed will impact social stability and economic development, therefore, governments are committed to establish and improve housing security system, to ensure sustained and healthy economic development. At present, the major developed countries have established different features of the housing finance system, and successfully resolved the housing problems of low-and moderate-income groups.However,our country is still in the primary stage of socialism, all kinds of social security system is not perfect.In the process of rapid urbanization, on the one hand, housing demand is very high;on the other hand,there is a housing shortage, which are resulting in house prices continuing to rise, low-income groups could not afford to buy houses, and have seriously hindered the improvement of people's living standards and economic development, and thus establishing a sound housing security system has great significance to harmonious society.In the process of implementing housing monetization,our country learned from Germany's housing savings patterns and the housing provident fund in Singapore,however, we did not achieve the desired results, mainly due to China's vast territory, large population, the Government can not to bear such a huge expenditure on housing subsidies and lack of unified management of the operation of housing finance, therefore, this paper select the United States as the object of study, on the one hand,the two countries have the same condition, and the urbanization process in the history of United States did accord with China's current stage of social development, the other hand, market mechanism and government intervention could better adjust capital flows.This paper is divided into five parts.The first part is preface,which mainly discusses from topics of background,domestic and international research status and the stucture of paper. The second part describes the evolution of U.S. housing policy.These housing policies include public housing, rental subsidy program and low-interest loans. Public housing is still the nation's largest housing subsidy program.Rental subsidy program has gone through three stages:the rent certificate program,rent voucher program and Housing Choice Voucher Program.In addition, the low-income families can obtain low-interest loans from the Federal Home Loan Bank to cover the down payment and so on.Chapter 3 focuses on the U.S. government-backed mortgage institutions and their functioning, elaborates on operational processes of two kinds of government-guaranteed loans, then compares diffirences between FHA and VA.Chapter 4 focuses on the U.S. housing tax policy. First part introduces the operation of low income housing tax credit program(LIHTC);Second part cpmpares the differences among public housing, rental voucher program and LIHTC.In the last part,there is a brief description about tax incentives for home buyers.The last chapter describes China's current housing policies, including low-cost housing, affordable housing, housing provident funds, tax policy and housing guarantees. Through the analysis of existing solutions, I sum up the shortcomings of these methods, combine with the above-metioned measures of United States to put forward policy proposals.