Research On The Influence Of Market Sentiment On Commercial Housing Transaction Based On Emotion Analysis

As an important livelihood and social issue,housing has been widely concerned.With the deepening of the network coverage project,the cost of receiving and publishing information is reduced,and a large number of views and comments are transmitted among Internet users with the help of the network platform.The public’s attention to housing issues continues to rise.The process of public opinion communication contains rich views,attitudes and emotions of market participants,which will have an impact on the economic decision-making of market actors.Commercial housing has the dual attributes of consumption and investment.It is also a capital intensive and labor-intensive market.When the transaction behavior or emotional expression of micro individuals converge into market forces,it may aggravate market fluctuations and even affect people’s livelihood,economic and social development.Of course,affected by the general tone of "housing without speculation",the real estate market gradually returns to rationality,and the long-term trend remains stable.However,it is undeniable that the incomplete symmetry of information and regional differences will lead to the existence of market irrational factors.The emotional expression of the news media and the market public will lead to the rise or fall of market sentiment,and finally lead to the short-term fluctuation of the commercial housing transaction.Therefore,this paper focuses on the commercial housing market.With the help of natural language processing technology,this paper attempts to explore the impact of market sentiment composed of real estate public opinion on the commercial housing transaction.Considering that the commercial housing market is composed of new housing and second-hand housing,the research adopts the research paradigm of combining theoretical analysis and empirical analysis.Firstly,it explains the influencing factors and formation principle of market sentiment at the theoretical level,and deeply expounds the transmission path of market sentiment acting on the commercial housing market;Secondly,the empirical analysis takes the central urban area of Chongqing as an example to predict and mine the relevant network texts,collect the relevant network information of Chongqing real estate from January 1,2019 to December 31,2021,successively carry out natural language processing technologies such as data crawling,text cleaning and emotion analysis,analyze the emotional tendency of news corpus and construct the emotion index of real estate market;Then,based on the traditional factors,this paper constructs the VAR models of the new commercial housing market and the second-hand commercial housing market respectively,introduces the market sentiment index,and compares the differences between the market sentiment acting on the new commercial housing and the second-hand housing by using the analysis methods of impulse response analysis and variance decomposition.The conclusions are as follows: market sentiment is a potential factor affecting the fluctuation of commercial housing transaction.As a complex system,the action path and influence result of market sentiment on commercial housing market are not simple linear,showing more complex feedback loop characteristics;Market sentiment has a more significant impact on the second-hand housing market.According to the empirical analysis results of Chongqing commercial housing market,the variance contribution rate of market sentiment index to the trading volume of the new commercial housing market is 8%,and the variance contribution rate to the trading volume of the second-hand housing market is 13%,indicating that the impact of market sentiment on the second-hand housing market is higher than that of the new commercial housing market;Market sentiment always shows a strong positive response to the impact of commodity housing market,but there is a short-term lag in emotional response,which shows that market sentiment shows high attention and sensitivity to the trading volume and price of commodity housing market,and also shows that there is information asymmetry in commodity housing market.