The Real Estate Bubble Analysts Of Wuhan

High house prices problem has received extensive attention of the people throughout the country.It is also one of the focuses of the government and relevant departments to solve the problem.A direct manifestation of the real estate bubble is soaring house prices.But the prices are high,it does not mean that there is a real estate bubble.As one of the backbone of the rise of the central region of Wuhan,the condition of the real estate market bubble may be in different extent,affects the whole of Hubei province,the central China,and even a broader regional economic development.Therefore,Wuhan real estate market bubble problem attracted the social each domain experts,scholars and has attracted a great deal of discussion.But for the existence of the Wuhan city real estate bubble problem is difficult to form a consistent decision.Scholars have been established.This paper approach to measure of the real estate bubble degree of Wuhan city,and prove whether the Wuhan city real estate bubble.Based on the real estate market in Wuhan city,on the basis of existing literature.First of all,the theoretical level of the bubble economy and introduces the definition and characteristics of the real estate bubble.Through the selection of the real estate bubble events in the history of the United States,Japan and China,this paper analyzes the harm caused by the housing bubble to our socio-economic development.Then introduces three methods of the measure of the housing bubble,which are frequently used,considering the maneuverability and convenience.This paper chose the indicators used to measure the problems of the Wuhan city real estate bubble.To the real estate market of Wuhan city has a simple and comprehensive understanding,selected the Wuhan city real estate market investment,trading,commercial housing sales prices,housing and per capita disposable income per capita,and land prices five dimensions are introduced.And the real estate investment as a share of GDP,the vacancy rate and housing price to income ratio,the land price bubble four indicators comprehensive measure of the real estate bubble degree of Wuhan city.Based on the data of Wuhan real estate market in 2006 and 2014,the Wuhan city real estate bubble degree has carried on the comprehensive measure,the empirical results strongly proves the existence of Wuhan city real estate market bubble,denied for scholars to Wuhan city real estate bubble theory,at the same time clearly defined the range of the bubble.This is the following: between 2006 and 2014,the property bubble in Wuhan(19.4%,47.1%).The property bubble peaked at 47.1% in 2013,followed by a bubble in 2014 followed by 43.8%.The housing bubble fell in 2008 due to the subprime crisis and the earthquake in WenChuan.But the country's $4 trillion stimulus package in 2009 led to an immediate rapid growth of 29.6%.After 2010 because of the country and the Wuhan city government to a strong housing market regulation,real estate bubble in 2011 fell by 30.4%,after 2012,due to the new changes,the real estate market appears unceasingly for the controls for the real estate market has not so effective,the real estate bubble up again.The empirical result is advantageous to the social from all walks of life more clear understanding of the real estate market in Wuhan city,the government later related real estate policy has a positive enlightenment function.