The Empirical Relationship Of Housing Prices And Educational Resources

"Real estate problem is an important problem related to people's livelihood."In the several years after the financial crisis of USA, the commercial housing prices have increased excessively in many cities of China. It has appeared the phenomenon of difficulties in buying houses and advancing the purchasing power. The formation factors of commercial housing prices and their influence have caused widespread concern. The commercial housing prices are set by the relationship between supply and demand of the commercial houses in the market. The paper tries to find the hidden factors, beginning with the reasons why the housing prices of USA continually increased and finally formed the bubble. On the situation of rather stable supply, the increasing demand for commercial houses inevitably leaded to rising housing prices, which ultimately formed the bubble.Although the global financial crisis resulting from the burst of the real estate bubble erupted two years ago, its damage has been profoundly affecting the real economy of the countries all over the world, especially the one of those poor developing countries. There existed many reasons for the real estate bubble, such as low interest, blind optimism of the investors, loan conditions which loan institutions relaxed, the securitization of mortgage loans, and so on. The paper analyzes various factors of the formation of commercial housing prices through the factor model of formation of commodity prices, studies the factors of educational resources from a macro perspective based on the results of previous research, and uses SPSS statistical analysis software to analyze the data of housing prices in the states of USA during the housing bubble period(2002 to 2006) and the data that the evaluation of housing prices deviates from the actual prices during the period. The results obtained from another perspective answer that competition for resources in education due to the uneven distribution of educational resources is related to the America's increasing housing prices and the real estate bubble under the premise of the loose monetary policy and a lot of foreign capital inflow conditions.From the educational factors of America's real estate bubble we should remember that the inadequate resources of higher education in China is more serious than those in USA., so we do the Granger causality test to the relationship between China's housing prices and educational resources for time series (1991 to 2009)with Eviews software, make a regression analysis of housing-related factors of China's 27 provinces and 4 municipalities in 2009, and finally get the degree of influence of education resources to housing prices. At last, we should learn the lesson from the America's financial crisis, increase the investment in education, increase the supply of educational resources, and adjust the distribution structure of education to ensure that educational resources can be distributed reasonably,every citizen will have the equal access to education,and the current housing prices can be regulated to some degree from a macro perspective.