Study On Regulation Policies Of Housing Price

Recent years, The real estate market gradually develop，but there were very seriousproblems in the development of estate market，the main problem is that housing pricerapidly keeps rising, especially since2004. On the one hand, the prosperity anddevelopment of the housing market promote development of economic, on the otherhand, it can also make a lot of people bear such high prices.This paper researches on China’s housing price. The analysis structure consists ofthree main parts: housing and housing services, asset pricing and the pricing theory ofsupply and demand, real estate bubble, econometric analysis of affecting factors and thepolicy analysis of housing price.First, this paper make the housing and housing services for the distinction, anddefined the real estate bubble and makes a comprehensive analysis of bubble measuretools;，and then, this paper discusses asset pricing and pricing theory of supply anddemand, and straighten out the relationship between the two. From two aspects ofhousing supply and demand, this paper classify the influence factors of housing prices,and put forward the theoretical hypothesis.Second, before the empirical analysis, this paper makes a comprehensive analysisof the particularity of the land market in our country, and points out that land price haveimpact on housing prices. Then this paper utilizes30large and medium cities’ pool data,constructs quantitative analysis model to do research on China’s housing price affectingfactors; and utilizes the granger causality test to do research on the relationship betweenthe residential land price and housing price.Third, this paper reviews the historical price regulation policy, and makes analysisof our country house price regulation policy on the basis of empirical analysis. Thispaper makes analysis mainly from three aspects as follows: the land policy, financialpolicy and tax policy.Finally, this paper summarizes the results of research, the possible deficiencies ofthis paper.