The Impact Of Maximum Loan Limit Of Accumulated Housing Fund On Housing Prices

Although China has issued a series of real estate market price control policies in recent years,the price of the real estate market is still higher than the income level of urban residents,the overall effect still needs to be improved.The housing accumulation fund system is an important policy means to regulate the supply and demand of the real estate market.It will affect the price of the real estate market by affecting the supply of affordable housing in the real estate market and the affordability of buyers(affecting the demand).Based on the actual situation in China,this paper introduces the current market price of real estate and the housing provident fund system,and introduces the empirical analysis to discuss the impact of the housing provident fund ceiling on the housing price.The emphasis is to clarify the impact of the maximum loan amount of housing provident fund on the housing price through empirical analysis.The model in the third chapter is divided into two levels: macro analysis--to determine all the macro factors affecting housing prices,including the supply and demand levels,so that we can enter the analysis of the impact of housing provident fund.After that,the second level of empirical analysis aims to explain that housing accumulation fund will affect the supply and demand,and thus the housing price.VAR model was used to conduct two regression analysis.The first one was the impact of the national housing accumulation fund average on the housing price average,and it was found that the housing accumulation fund had an impact on the housing price,indicating that the impact was finally realized by affecting supply and demand.The second regression analysis was conducted by selecting a total of 30 first-tier,second-tier and third-tier cities of the urban real estate market price and housing fund ceiling.Through this level of analysis,it is found that different areas of housing provident fund ceiling on the impact of housing prices are different.Of course,the difference of its regional influence is also related to the impact of housing accumulation fund on the supply and demand of the real estate market.On the basis of empirical analysis,we design the housing provident fund system and other supporting policies to strengthen the price control of the real estate market.