Empirical Study Of Real Estate Policy Impact On Price And GDP

The real estate is both a pillar industry of national economy and the basicindustry, the city and the development of other industries to a large extent by the realestate development, and even affect the cyclical fluctuations of the economy. Thepast two years, the soaring housing prices and real estate investment overheatingattracted the attention of the whole society. From Change the experience of manyWestern countries house prices, soaring housing prices in the short term is easy togenerate the real estate bubble, weakening the financial system, and even lead to along period of economic recession. On the other hand, the prices continued to risetoo fast will weaken the purchasing power of residents, the housing problem can notbe solved properly, this will be a tremendous negative impact on social stability.Recently, our government introduced a series of real estate policy to control prices,has made certain achievements, but still has many drawbacks. Therefore, how toeffectively use the real estate policy, to stabilize the current inflated prices, alleviatethe pressure on the unrealistically high prices has an important significance.In this paper, the impact of the real estate policy on house prices and GDP as theresearch object, from the economic theory and the actual situation of China’s realestate real estate policies to solve the current problem of high prices play animportant effect. Followed by two aspects of the conduction mechanisms and theeffects of China’s real estate policy, a systematic analysis, and finally through theestablishment of a simultaneous equation model containing dummy variablesquantitatively investigated the impact of China’s real estate policy on house pricesand GDP the degree and direction.The results show that China’s real estate policy in2008, although able toeffectively pull GDP growth, but did not play its due role for the suppression issueprice, but to promote the rise in house prices. Combined with qualitative analysisshows that the introduction of the real estate policy, on the one hand a direct impacton China’s total GDP, on the other hand will also indirectly affect the price impact ofChina’s total GDP. In the short term, China’s GDP growth will indeed be subject tocertain negative effects, but in the long term, house prices under control, thepurchase of credit limit policy making speculative phenomena were suppressed, thereal estate transaction are also able to effectively achieve the maximized, thereby stimulating the development of the industrial chain, will make a stable growth ofChina’s GDP.