Research On The Role Of Housing Provident Fund In Housing Security For Middle-and-low-income Groups

The housing provident fund is a housing security system,which regards the middle-and-low-income groups as the main guarantee object and aims at reducing their housing burden.Due to the rising rent and high house price,the middle-and-low-income groups are under great housing pressure.Whether housing provident fund can effectively play the role of housing security in this situation and help the middle-and-low-income groups realize their "dream of living in peace" is a question worth exploring.In view of this,this paper uses welfare economics,market failure theory and the filtering theory to theoretically deduce the effect of housing provident fund on the middle-and-low-income groups.Based on theoretical deduction,this paper studies the operation principle and main content of the housing provident fund,and analyses the theoretical basis of the housing provident fund inclining to the low-income groups.According to the theoretical analysis,housing provident fund can reduce the housing burden of residents,and help low-income groups to obtain more housing resources.On this basis,this paper studies the housing problem of middle-and-low-income groups and discusses the practical path of housing provident fund.The analysis of housing problem shows that the high house price and rising rent increase the housing expenditure of middle-and-low-income groups,which makes them face a certain housing burden.And the function of housing provident fund in house purchase credit and rent extraction can reduce the housing cost of middle-and-low-income groups,help solve their housing problems,and play the role of housing security.However,there are some problems in the implementation,such as the defects of loan policy,the imperfect supporting measures,and housing market regulations weaken the role of security,which lead to the uncertainty of the actual security effect of housing provident fund on the middle-and-low-income groups.Based on the previous analysis,this paper uses the propensity score matching method to calculate the actual effect of the housing provident fund.This paper divides the research sample s into two categories: house-renting population and house-purchasing population,and makes respective descriptive statistics on them,then calculates the housing burden index of the two types of samples,observes the difference of housing burden between the samples with housing provident fund and the samples without housing provident fund,and measures the housing security role of housing provident fund for middle-and-low-income groups according to size and significance of the difference.The empirical results show that it is difficult for the middle-and-low-income groups to obtain housing provident fund protection.Housing provident fund plays an obvious role in guaranteeing the house-purchasing population,but it has no significant role in guaranteeing the house-renting groups.By studying the housing security effect of housing provident fund on the middle-and-low-income groups,this paper tries to find out the countermeasures of housing provident fund to the housing problem of middle-and-low-income groups,so as to provide reference for improving the housing provident fund system.Based on the previous research,this paper puts forward some suggestions for enhancing the housing security effect of housing provident fund from three aspects: improving the housing provident fund deposit rate of middle-and-low-income people,improving the housing security function of housing provident fund and promoting the rental extraction function of housing provident fund.