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Research Of The Real Estate Price Formation Mechanism Based On The Expectation Theory

Posted on:2014-01-25Degree:MasterType:Thesis
Country:ChinaCandidate:L WangFull Text:PDF
GTID:2249330395995900Subject:Political economy
Abstract/Summary:PDF Full Text Request
In recent years, the development of the real estate market of our country economic society brought significant impact on different levels. House price as the most direct and core indicator for real estate market development, its change has become a hot issue of social concern. Within the studying of China’s real estate price formation mechanism, most scholars put attention to the supply market of land and real estate, the financial market and the government. However, few studies were given to the demand market of real estate. As a result, the theory part is of a big deviation with the reality. By studying the process of expectation within the main participants of the real estate market (developers and consumers) in China, this article attempts to study the mechanism of the real estate market in a new perspective of in-depth in our country.In chapter1, we introduced China’s real estate price formation mechanism research of the selected topic background and research significance, elaborated this article research methods and logical structure. In chapter2, first of all. in the traditional research direction, we summed up the predecessors’research value at home and abroad; Secondly, by introducing expectation theory at home and abroad, we summarized the relationship between real estate price changes and expectation, providing reference for the research of this paper. In chapter3, we analysis characteristics of the real estate market in China. On this basis, we described real estate prices in China. In chapter4, through analyzing the characteristic of our country real estate market participants, and the influence of the government’s macro-control on the real estate market, expound in our country real estate price formation mechanism and the relationship between markets subjects’expectation. In chapter5, firstly, by establishing the mathematical model of the analysis of the expectations of market participants, we analysis our country house price formation of the theoretical mechanisms:Secondly, as a empirical analysis, by using China’s panel data of30provinces to house prices and expectations, and other macroeconomic variables, we tried to figure out the relationship between the expectation and real estate market price.Take chapter6as the summary. For the reason that the market information is not transparent, and macroeconomic regulation and control policy is shortsighted, the divergence of consumer expectations and market, housing price keep rising in recent years. This article suggests that establishing a fair and open information transmission system, promoting the rational development of the market expectation, will be very important for the healthy development of the real estate market and the stability of price.
Keywords/Search Tags:price of real estate, expectation, macroeconomic regulation and control
PDF Full Text Request
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