The Research On The Relationship Between The Real Estate Loan And The Real Estate Price

We have been had the revolution on real estate since 1998. It is a dream for all of us that everyone can have a house to live. The revolution on living real estate causes more and more demand for living house, leading the rapidly development in real estate industry, and the whole national economy. In recent years, the real estate industry has developed rapidly in China. It has become the pillar industry in national economy, and an important pulling force in promoting the domestic economic growth. However, the rapid growth in the development of real estate relys heavily on the financial support, and the main financing channel in China is commercial banks. So the real estate is closely related to the real estate loan in commercial banks. The real estate loan from commercial bank support real estate industry in two aspects:on one hand, the real estate loan support the developers enough money to supply real estate to the market; and on other hand, the real estate is too expensive for one person or one family to paid at once, most of them have to loan from the banks. So the commercial banks become the middlemen in the real estate market.As the commercial bank loans become the mainly financing channel at present, the real estate loan affects real estate price via influencing the supply and consuming, and the that effect has become stronger as the proportion of real estate in the national economy grows rapidly these years. Furthermore, the close relationship between real estate price and the real estate loan make the national economy more fragile. One little crash may hit the national economy heavily. In this circumstance, it is important to analyze the relationship between the real estate loan and the real estate price.This dissertation first analyzes the present situation of the real estate industry and the real estate loan. And then go on analyzing the relationship between the real estate loan and the real estate price, both quantitatively and qualitatively. Based on the empirical conclusion, we may say that, there is co-integration relationship between the real estate loan and the real estate price, and the elasticity is 0.4069, that is for each additional unit increase in real estate loan, the real estate price will increase 0.4069 unit. In the short run, the elasticity is 0.0296, which is very small, means that the real estate loan has very limit effect on real estate price. However the effect becomes more apparent for the next and next two lags. Besides the real estate loan and real estate price is the reason for each other. As the real estate industry has developed so rapidly that the authorities has to pay more attention on it, and control it development. The dissertation gives some advices in the following three aspects, namely broadening the real estate financing channel, strengthening the bank real estate regulation and monitoring of the real estate market,...