Research On The Impact Of Housing Price On Residents’ Well-Being From The Perspective Of Regional Differentiation

With the realization of China’s first centenary goal,people’s living standards have been greatly improved,and social development is also changing with each passing day.However,we are still far from realizing the second centenary goal.Improving people’s sense of well-being,realizing common prosperity,and realizing the great rejuvenation of the Chinese nation is the current direction of our efforts.In recent years,the happiness of Chinese residents has almost stagnated around the world.According to the Global Happiness Index report,the happiness of Chinese residents ranked 93 in the world in 2019,but it reached 94 in 2020,of which 156 countries participated in the survey.It can be seen that there is a long way to go to improve the happiness of residents.Since the reform of the housing system,the real estate market has developed by leaps and bounds,and house prices have also increased day by day.As the carrier of the home,housing not only affects the small family,but also affects the people’s livelihood.The rising price of housing has an important impact on the well-being of residents.At present,under the impact of the epidemic,the world economy as a whole is facing downward pressure,some real estate companies are exposed to credit risks one after another,residents’ employment and other aspects are unstable,and life pressure is intensifying.It is imperative to stabilize the housing market and improve residents’ happiness.This paper systematically sorts out the existing literature on real estate and residents’ well-being.On this basis,it uses the data from the China General Social Survey(CGSS2018)and the official website of the National Bureau of Statistics to conduct empirical analysis to analyze the impact of housing prices on residents’ well-being and analyze the impact of housing prices on residents’ well-being.area for discussion.Control the variables at the micro level and macro variables,use OLS and ordered logit and probit models for analysis to prevent endogenous problems,and use the total population and residential completed investment in each region as instrumental variables for analysis.To ensure the robustness of the results,conduct relevant inspections.The cluster analysis method is used to classify the regions,and the empirical analysis is carried out for each region,and the regional differences among the regions are investigated.Based on the above empirical analysis,this paper draws the following conclusions:(1)There is a significant positive correlation between housing prices and residents’ well-being,and there is a significant negative relationship between the housing price-income ratio and residents’ well-being;(2)There are group differences in the impact of residents’ well-being,and the positive impact on housing men is more significant;(3)There are regional differences in the impact of housing prices on residents’ well-being.It has a negative impact on the residents of the first type of area,and has a positive impact on the residents of the second and third types of areas,and the impact of the second type of area is more significant.Based on the above conclusions,this paper puts forward relevant policy suggestions from the aspects of stabilizing the development of the real estate market,increasing residents’ income,accelerating the development of the financial market,and narrowing regional differences,so as to provide possible solutions for increasing residents’ happiness and solving the problem of unbalanced and insufficient development.