Real Estate And Macroeconomic Relations

As we know, the real estate is not only an industry related to the people's livelihood, but also a hot topic at present. In this paper, we mainly start from two aspects to investigate the relationship between the real estate industry and the macroeconomic: in one aspect, we will study the relationship between the real estate and some macroeconomic factors which can be quantified and have impacts on the real estate; in the other aspect, we will study the relationship between the real estate and other macroeconomic factors which are non-quantifiable and have impacts on it.Firstly, we use the development cycle of Japan's real estate as an example to show that the real estate industry has a close relationship with macroeconomic. And then go to the main part of this paper.In fact, we can find many quantifiable factors which impact on the real estate, such as: the gross domestic product GDP, the level of household consumption and the price level, the interest rates, inflation rates, monetary circulation and so on. In the paper, we mainly use two factors that can be quantified: the gross domestic product GDP and the consumption level of residents. In the third Chapter, we will primarily use the statistical software spss15 and sas9.0 to fit the data by the non-linear regression. And according to the results of fitting the price of the real estate with the gross domestic product GDP and the level of the residents' consumption, we can get a specific model between them. From the derived model, we can see that when the growth of GDP and the consumption level of residents is slow, the price growth of the real estate range is very small, the year of 2002 can be regarded as a turning point, after 2002, with the rapid growth of GDP and the consumption level of residents, the real estate price began to rise significantly. This is related to the policies which were promulgated after 2002 in our country.As to the non-quantifiable factors, in the fourth Chapter, we mainly study the macroeconomic policies in China, such as: government land tax policies, monetary policies and so on those have impacts on the real estate industry. In this chapter, we will enumerate the policies in our country recently which have impacts on the real estate industry, as well as their impacts. By introducing some foreign developed countries' policies which were implemented to control their country's real estate during the financial crisis, we expect that our government can learn from them at the critical time.