Research On The Impact Of Banking Real Estate Loan On Housing Price

As a capital-intensive industry,the traditional real estate industry cannot do without financial support.China's financial support for the real estate industry is still not perfect,the financial market is not innovative enough,the system is not perfect,and the development of real estate finance is lagging behind,which has caused certain obstacles to the development of financial innovation in this field and reduced the efficiency of asset utilization.In recent years,in order to curb the growth of the real estate bubble,a series of contraction policies have been introduced,and the pressure on real estate enterprises has increased,especially the development of small and medium-sized housing enterprises.The financing channels of China's housing enterprises are over-reliant on the banking channel.Under the policy tightening,the company's funds are limited,the capital chain may break,the financial pressure of enterprises will double,and the enterprises with insufficient assets may face bankruptcy risks.Real estate enterprises will also increase the value of loan collateral in the production and operation process to further increase the real estate price,which will lead to a bubble.Therefore,it is of practical significance to study the impact of bank loans on residential prices.This paper is mainly from the microscopic point of view,the research methods are divided into theoretical research and empirical research.Firstly,from the theory of land rent,property rights theory and the theory of superior order financing,the impact of real estate bank credit on real estate prices is theoretically explained.According to the theoretical analysis framework,the future expectation of residential prices,personal mortgage loans,real estate investment and development loans,residential supply quantities,land prices,urban population and per capita wages on real estate prices are selected.The empirical results show that:Under the assumption of rational expectations,the impact of real estate investment and development loans on residential prices is not significant,but in terms of the degree of impact,it is negatively correlated with residential prices,and the impact of personal mortgage loans on residential prices is significant,and positively correlated with residential prices.The shrinking of the scale of personal mortgage loans can effectively curb the housing price bubble;under the assumption of adaptive expectations,the role of real estate investment and development loans and personal mortgage loans on residential prices is the same as rational expectations,but with rational expectations.The difference is that real estate enterprises and individual housing investment,demanders' expectations of future residential prices have an impact on residential prices;in addition to bank loans,housing prices are also affected by residential price expectations,total urban population,and per capita income.Under the rational expectation and adaptive expectation,the residential price expectation and the per capita income level are directly proportional to theresidential price,and the total urban population is inversely proportional to the residential price.According to the above theoretical and empirical analysis,the paper finally proposes: policy recommendations to limit the scale of individual housing credit,broaden the multiple financing channels of real estate enterprises,reasonably guide commercial banks' expectations of residential prices,and expand the supply of multiple housing.