A Linkage Study Of The Building Affordable Housing To Commodity Housing Prices Under The Influence Of Absorbing Demand And Land Extrusion-based On A Panel Data From China's 35 Cities

Affordable housing as policy-related house provided by the government has been the focus of scholars.With anticipation of rising house prices in China,the housing problem acute in major metropolitan areas.The importance of housing security is self-evident.In recent years,government has added more investment on affordable housing.This makes people are concerned about the impact on commodity housing prices,and hope to dampen price inflation.However,foreign literature is more about crowding-out effect,housing filtering and welfare housing.There is no explicit conclusion of the impact on commodity housing prices caused by the affordable housing.Regarding the problem have two mainly different understanding,or suggesting it prohibitive price,or considering it promote price.Among the reasons for the conclusions from two different angles in demand and supply.On the one hand,affordable housing may rob housing demand from commercial housing market.The price will drop in part because reduced housing demand.On the other hand,building affordable housing will occupy large area of useful land.The reduced supply of land make land price rise.So,the heavy land costs make way for the hike of price.However,the two kinds of effects exist at the same time.What's more,the research generally uses provincial panel data and take commercial housing market as a whole.This ignores the heterogeneity of the housing market and commercial housing.In view of this,we take into account both of the factors and use a panel data from China's 35 cities in this paper.The house is also divided into general and high-grade categories for in-depth analysis.We try to answer a question “how is the impact on commodity housing prices caused by building affordable housing?”This paper reviewed the research progress by domestic and foreign scholars about the impact on commercial housing market caused by affordable housing,especially the impact on prices;then expound the influence mechanism about them and clarified affecting approaches of commercial house supply and demand.At last,this paper conducted empirical study on ordinary/ high-grade commercial housing based on PVAR model and fixed effect variable coefficient model use a panel data from China's 35 cities.The conclusions are drawn as follows:(1)Affordable housing could suppress the ordinary commercial housing prices because of absorbing the housing demand.The high-grade commercial housing prices would drive prices up because of extruding land.(2)The overall effect of commercial housing to commercial housing prices is inhibition,the high-grade commercial housing prices is promotion.(3)The effects of absorbing the housing demand and extruding land supply on housing prices vary from city to city.(4)From the housing prices among the different cities,the combined effect of ordinary/ high-grade commercial housing prices are different cause by building affordable housing.