A Study On The Assessment Of Housing Affordability For Urban Residents And Its Regulation Policy In China

Housing is an indispensable element in people's life.In China,housing has become an important goal and pursuit of residents.In recent years,the price of housing shows a rising trend of fluctuation in china,and can be described as "big up and small down".According to statistics,the average housing price in China has risen 3-4 times,and even higher in some cities.The continuous rise of housing prices weakens the housing affordability of urban residents,makes it difficult for them to live in houses.The government has issued a variety of regulation policies to alleviate the housing problem caused by rising house prices.Although the growth momentum of housing has been curbed,the situation is still not optimistic.For the rise of housing prices,some people attribute it to the seriousness of housing speculation and the failure of government regulation and control policies,we should reconsider the source of the problem how to measure residents' housing affordability reasonably,effectively and accurately and how to evaluate the effect of policy implementation accurately.Measuring the housing affordability is crucial to achieving the goal of all residents living.In the past,most scholars used the classification method of income class in the statistical yearbook to measure the housing affordability.However,the instability of this classification method makes the measurement results have errors that can not be ignored.Because of the stability and long-term predictability of industry income,it seems more reasonable to classify the industries as a class,and the measurement of housing affordability is more accurate.This conclusion is also well confirmed in the measurement results.This study reconstructs the research object,which we called sub-income class.And we based on the statistical data of 31 provinces,this study measures and evaluates the housing affordability of urban residents indifferent industries.Furthermore,we consider the long-term characteristics of residential housing consumption,a current-long-term housing affordability model is constructed to measure the housing affordability of urban residents in different industries in the purchase cycle.The results show that at the national and provinces,there are obvious housing affordability differences among different industries,most of which have housing affordability and regional differences.From the national data,there are certain contradictions between the current and long-term housing consumption in some industries,and there is certain deviation only in the current or long-term housing affordability analysis.The data also indicate that the current and long-term housing affordability of residents between different industries has formed an obvious consumption gradient.Through the muti-angle analysis and research on the affordability of residential housing in different industries,it has a high reference value for the housing affordability control policies.However,the evaluation of the implementation effect of the policy has more practical significance for the improvement and design of the regulatory policy.Based on the relevant research,this paper reviews the regulation policies of housing affordability in China.In order to analyze the policies more accurately,the paper uses HCW method to analyze the effect of real estate tax,and uses panel data model to study the relationship between monetary policy and house price.The results show that the real estate tax policy of "Chongqing Model" has reduced the house price by 5.08% and passed the validity test,which is a kind of design method of real estate tax that can be used for reference;while the two monetary policies have different effects on regulating house price and regional differences: the effect of loan interest rate on house price is effective in the long run,and controlling loan supply can be used as a short-term methods.Finally,based on the analysis of the housing affordability for the sub-income class and the evaluation of the effects of the two regulatory policies,we put forward some suggests in order to curb the unreasonable growth of housing prices,improve the affordability of housing for residents,solve the housing problems of residents,and achieve a Moderately Prosperous Society in all respects.