Research On The Influence Of Real Estate Price In Resource Based Cities Under The Fluctuation Of Economic Cycle

In resource-based cities,relying on the advantages of resources,while the economy is developing rapidly,the real estate also rise fast.Under the new economic normal,as the resource-based cities are entering a critical period of the transformation of the resources industry,there exists the imbalance between supply and demand and the slump of sales in real estate market with the decline in regional economic growth.Exploring the root causes of the price fluctuations,grasping the factors affecting prices and promoting countermeasures to stabilize the real estate market is of important significance to promote the coordinated development between the real estate economy and regional economy.In this essay,first of all,based on the theory of the supply and demand and the economic fluctuations,the influence of economic fluctuations on the economy are analyzed in resource-based cities.Secondly,this essay discussed that the supply and demand is changed directly or indirectly by the economic fluctuations through macro-economic variables and microeconomic subjects.Then the mechanism is analyzed on how the economic cycle fluctuation affects the real estate price.A conclusion is drawn that the price of real estate goes up or down regularly with the economic expansion and recession.Moreover,the model of factors influencing real estate prices is constructed based on analysis method and twelve indicators which affect the price of the real estate combining the characters of resourced-based cities.Thirdly,Taking Erdos as an example,the SPSS analysis is used to test the regression model.The results show that: under the influence of supply factors,the private lending,real estate investment and bank lending have significant impacts on the real estate price,and the degree of influence is reduced.Considering the impact of demand factors,the expected increasing price and the per capita disposable income of urban residents play an important role in real estate prices.Under the comprehensive factor,the real estate price is affected slightly significantly by the economic cycle fluctuation of the macroeconomic variable GDP and the coal price.The paper shows that the real estate price fluctuations is not only influenced by its demand and supply system but also affected by fluctuations in the economic cycle.Nevertheless,the real estate industry which developed relying on the resources industry,is seriously restricted by resource price and the fluctuation of economic cycle.Finally,according to the research results,some relevant countermeasures were put forward in two aspects,that is,promoting the balance of supply and demand in the real estate market and adjusting industrial structure to promote the coordinated development of real estate economy and regional economy.