Analysis Of The Impact Of Real Estate Factors On The Income Gap Of Chinese Residents

Continuously narrowing the income gap is an important era proposition in contemporary China.The main contradiction in our society in the new era is the contradiction between the people 's increasing need for a better life and unbalanced and inadequate development.To resolve this major contradiction,we must continuously promote the overall development of human beings,strive to narrow the income gap,and achieve common prosperity for all people.In 2000,China's Gini coefficient exceeded 0.4 international warning line,and it has continued to be above 0.4 so far,showing that the gap between the rich and the poor is already at a warning level and there is an expanding trend.This problem has become a serious issue facing China's high-quality development.In 2019,the Central Economic Work Conference put forward:To insist on the positioning of the house for living,not for speculation,it aims to alleviate a series of social problems caused by real estate factors.Faced with the "suddenly hot" real estate market and the"high" Gini coefficient,this paper attempts to select the perspective of the real estate industry to explore the income gap.Through research on the main sources of per capita wealth growth in China,it is found that the growth of real estate net value has become a major factor in the growth of per capita wealth of households across the country.The "demand" of housing for residents has exceeded the scope of basic survival needs,and real estate speculation in disguise has increased.An important means of wealth,high house prices,middle and low-income people face great pressure to buy a house,real estate factors have a direct and significant impact on residents' income gap.The impact of real estate factors on the income gap is mainly reflected in the "wealth effect","credit effect” and "income redistribution effect".When housing prices rise,real estate capital gains will have an obvious "wealth effect" that increases the total household assets and form an income gap;if there is a credit behavior in the process of buying and selling houses,a "credit effect" will occur,by changing the family's Consumption capacity creates an income gap;for further profit,people who own houses will increase real estate transactions,creating a "revenue redistribution effect".Those who do not own houses can not only enjoy the benefits of housing transactions,but also bear the The high rent burden creates a "scissor gap" in income,which exacerbates the income gap between classes.Based on the above mechanism analysis,this paper puts forward the hypothesis that "the rent burden of real estate and the loan burden have a significant positive effect on the income gap of residents",respectively selected Granger causality test and ARDL model for verification,and obtained by empirical analysis of industry income comparison "The rent burden factor of real estate and the burden factor of loan can significantly affect the income gap of residents in our country and present a positive expansion effect."In view of the conclusions drawn by the empirical analysis,this article puts forward policy recommendations for classified measures.For low-income people,they should focus on reducing the cost of house purchases to reduce the burden of life,improve the housing rental market,and promote the scientific purchase subsidy policies;And the purchase and sale policies to be adjusted,and the role of a comprehensive income taxation mechanism to play a role in regulating the real estate market.