Study On The Purchasing Power Of Residents In Zhengzhou Based On The Ratio Of House Price To Income

Since the 19 th National Congress,the Chinese government has put forward a policy of "strengthening security,accurately grasping,monitoring and early warning" on housing issues.The report of the 19 th National Congress emphasized that "the house is used to live,not for speculation".Returning to the residential property is the strategic tone of the government's future real estate development.In recent years,the excessive growth of currency circulation,the insufficient investment channels of the majority of residents and the unreasonable land fiscal policy have led to an unreasonable rise in China's housing prices.Zhengzhou is the provincial capital of Henan Province,a province with a large population in China.The resident population exceeds 10 million.However,compared with the national central cities of 9 countries,its urban land area is the smallest.The surge in population and the shortage of land area have made the housing market more and more unhealthy.The rising rate of housing prices has exceeded the growth rate of residents' income.This has brought tremendous pressure on the citizens to purchase housing,and it has also greatly restricted the economic and industrial upgrading and transformation of Zhengzhou City.Therefore,improving the purchasing power of residential houses to promote the organic development of the housing market has become one of the most important research issues.Through the study of a large amount of data at home and abroad,combined with China's national conditions,this paper uses the price-to-income ratio indicator to measure the purchasing power of residents in Zhengzhou City.The content of this paper is mainly divided into four parts.The first part explains the theory of the ratio of house price to income.Firstly,through the literature review,the typical research contents of house price-to-income ratio at home and abroad are introduced.Secondly,the basic theory of house price-to-income ratio is expounded,including the analysis of its definition,the influencing factors,the construction of house price-income ratio model.Finally,taking the personal housing loan and solvency as the entry point,the purchase house model is used to obtain a reasonable range of the house price-to-income ratio.The second part analyzes the general situation of Zhengzhou's housing market,briefly describes its development process and analyzes the current situation of Zhengzhou's housing market from two aspects: Zhengzhou's commercial housing construction and trading status.The third part is the study on the purchasing power of residents in Zhengzhou City.Firstly,the overall research on the income status of the residents from the aspects of population,household savings,and income of families of different classes.Secondly,it studies the price changes of new commercial housing,secondhand housing and affordable housing in Zhengzhou City.Finally,using the proposed priceto-income ratio model to calculate and analyze the housing price-to-income ratio of newfamily housing,second-hand housing and affordable housing for each income class,and analyze the purchasing power of households in various income classes for various types of housing.The results show that the city's housing prices are too high overall,most households do not have purchasing power for new commercial housing,high-income and above households have overall purchasing power for second-hand housing,and middle-income families have a step-by-step purchasing power for affordable housing and some small-sized commercial housing.Finally,low-income and lowest-income families can barely form purchasing power for small-sized affordable housing.The fourth part puts forward corresponding countermeasures and suggestions for the housing market of Zhengzhou City and the income status of residents.It elaborates on housing supply,household consumption,income distribution and housing system.