On The Change Of Housing Price From The Perspective Of The Upgrading Of Human Capital Structure

Under the background of anti globalization,the competition between countries is fierce,and the core of national strength and national weakness is national or regional human capital.In order to obtain abundant high-level human capital,colleges and universities continue to expand enrollment,and the proportion of high-level human capital population in various provinces and cities is gradually increasing.The expected income of this level of human capital is higher in the future,and the ability to pay for house purchase is strong,which leads to the increase of housing demand.In addition,the main body of human capital is "people",who have functional and spiritual needs.From low-level physiological security needs to high-level respect and self realization needs,housing can meet the needs of different levels of human capital as a whole.Based on this study,the relationship between human capital and housing price in China’s provincial regions is found as follows: first,through the local and global Moran index analysis of the explained variable housing price and the core explanatory variable high-level human capital,we can see that there is a strong spatial correlation between housing price and high-level human capital.The statistics of local Moran index show that housing prices and high-level human capital in "HH" and "ll" provinces have high similarities.For example,housing prices and high-level human capital in Tianjin are located in the first quadrant,that is,high-level region;The housing price and high-level human capital in Sichuan are in the third quadrant,that is,the low-level area;In addition,there is a big difference between high-level human capital and housing price in some cities.The high-level human capital level is high,the housing price level is low or the high-level human capital level is low,and the housing price level is high.Secondly,through the analysis of the total effect,direct effect and indirect effect,it is found that there is a linear relationship between the explanatory variables and the explained variable(housing price).Among them,high-level human capital(HLT),education expenditure(EDX)and per capita gross domestic product(GDP)have a positive effect on housing price,and the indirect effect coefficient is higher than the direct effect coefficient.Housing investment(REI)and urbanization level(POP)have a negative effect on housing price,and the indirect effect coefficient is lower than the direct effect coefficient.Thirdly,the upgrading of human capital has a strong explanatory effect on the change of housing price.The increase of the proportion of the educated population with college degree or above in the total educated population promotes the high level of human capital,and the more obvious the rise of housing price.It reflects that the upgrading of human capital further expands the housing demand of provinces and cities,thus promoting the rise of housing prices.The main innovations are as follows : most of the existing literature on housing price is based on the economic perspective,ignoring the impact of human capital.This study analyzes housing price from the perspective of human capital structure,which makes the research results more meaningful;Considering the strong regional characteristics of the housing market,this study introduces the spatial perspective to build a spatial lag model to analyze the mechanism between human capital and housing price,which makes the research conclusions more extensive.Based on the above conclusions,the following suggestions are put forward: first,the government has issued relevant policies for the housing market itself,controlling the housing market from a series of links,such as land acquisition by real estate developers,interest rate of purchasing commercial housing and pre-sale by real estate developers,so as to curb the sustained growth of housing prices.Second,for the upgrading of human capital,we should introduce relevant talent introduction policies according to the development of different cities,optimize the structure of human capital and stabilize the rise of housing prices.Third,we should pay attention to the education investment in the areas with backward education level,and reduce the difference of education level among different regions.