Study On The Impact Of Housing Price On The Income GAP Of Urban Residents

At present,the high price of real estate and the widening income gap of residents are two major problems that need to be solved urgently in China.Since 2000,the average selling price of commercial housing in China has been rising steadily,and the increase is larger.From 2112 yuan per square meter in 2000 to 7892 yuan per square meter in 2017,the average annual increase is 15%.The rising price of housing assets has a greater impact on households.The wealth of households with housing has increased sharply,while the wealth and income of households without housing have been squeezed.In such a situation,the gap between income and wealth between different households is widening,and social distribution is liable to polarize.According to the official data released by the National Bureau of Statistics,the Gini coefficient of income of the whole population in China reached 0.465 in 2016,slightly decreased compared with 0.474 in 2012,but even if this data has a downward trend,it is far higher than the warning line standard of Gini coefficient.Therefore,how to closely integrate the macro-control policy of real estate and the social income distribution system,and how to use the real estate market control to control the income gap of residents within a reasonable range has great practical significance.Before deeply discussing and analyzing the impact of housing prices on the income gap among urban residents,this paper firstly combs the meaning,angle and current measurement methods of the income gap among urban residents measured in this paper,and then chooses the most commonly used Gini coefficient method in domestic and foreign research to measure the income gap among urban residents in China.Then the mechanism of urban housing price influencing urban residents' income gap through wealth effect,credit effect,inflation effect and crowding-out effect is deeply analyzed.Furthermore,the current situation of urban housing price and income gap in China is sorted out and summarized.The analysis shows that the gap between housing price and income in eastern cities is significantly higher than that in nonEastern cities,and there are great regional differences between housing price and inequality between rich and poor.Based on the previous theoretical analysis and summary of the status quo,this paper uses the panel data of 33 large and medium-sized cities from 2000 to 2016 to construct a dynamic panel model to examine the impact of housing prices on urban residents' income gap and the interregional differences of this impact.The empirical results show that the rise of housing prices has a significant positive impact on the income gap of urban residents,and the impact of the eastern urban sample is significantly higher than that of the non-Eastern cities.In addition,per capita GDP,government investment in education,the proportion of urban population and tertiary industry also have a certain impact on the income gap of urban residents.Finally,this paper draws a conclusion based on the above research,and puts forward reasonable control of urban residents' income gap from four aspects: improving the real estate tax policy,restraining speculative housing demand;coordinating urban development in various regions,speeding up the process of industrial upgrading;increasing government investment in education,paying more attention to education equity,increasing the supply of affordable housing,and effectively reducing the living costs of middle and low income groups.