The Impact Of The Equalization Reform Of Educational Resources On The Premium Rate Of School District Housin

With the development of China’s economy,more and more attention has been paid to education,and the school district is hot for a long time due to the limited and uneven allocation of educational resources and other factors.It also has a negative impact on the evaluation of school district houses.In recent years,the central government and all provinces and cities have launched relevant policies to reform the equalization of educational resources and rectify the housing chaos in the school district.This paper attempts to study the impact of education equalization reform on school-quality premium through the analysis of the policy of fair distribution of high school admission resources in Shanghai,and put forward corresponding reasonable suggestions based on the analysis results.The research content of this paper is mainly divided into theoretical research and empirical analysis of two parts.First of all,in terms of theoretical research,this paper sorts out the domestic and foreign scholars’ research on the impact of school district quality on housing price and the impact of previous policies on housing price,confirming that the capitalization of school district housing does exist,and is formed by multiple factors such as differences in educational resource allocation,real estate fixation and investment attributes.Among them,qualitative research involves capitalization and equalization of public services,while quantitative research involves hedonic price model,boundary fixed effect model and difference-in-differences model.Among them,the latter two models are widely used by scholars on the basis of traditional hedonic price model considering variable omission and other problems.In terms of policy effect studies,domestic studies still focus on the impact of purchase restriction policies on the housing price,including the cooling effect of policies on the housing market and their effective time.As for "nearby enrollment" policy,it does not really solve the problem of education equity,but only shifts the traditional school choice fees to the housing price.In terms of empirical analysis,this paper uses the hedonic price model to analyze the micro data of housing transactions in Shanghai from January 2020 to September2021,and takes the time of policy implementation and school information as an interactive item to study the changes of school-quality premium before and after the release of the policy The school level and housing attributes are grouped to study the impact of the release of policies on the school-quality premium.Secondly,combined with the regression discontinuity design,this paper analyzes the house prices of school district housing and non-school district housing before and after the policy release,and analyzes the specific reasons for the change of school-quality premium.The contributions of this paper are as follows:(1)Due to the promulgation time of the balanced distribution of senior high school admission quota policy in Shanghai,there is no empirical analysis on the impact of the policy on housing prices.Through this research,we can timely understand the effect since the release of the policy.(2)Considering the differences in the distribution of resources of key high schools in different regions and the differences in different housing attributes in the same region,the impact of classification research policies.(3)Using RDD to accurately identify the effect of policy release,better estimate the impact of the policy on housing prices,and also contribute to the accurate evaluation of real estate.The conclusions are as follows:(1)The reform of educational equalization has an inhibitory effect on the housing premium rate of school districts.The release of Shanghai 316 policy has reduced the housing premium rate of middle school districts by 8.4%;(2)From the perspective of the distribution of administrative regions,the release of policies has a more significant impact on administrative regions with rich educational resources;From the perspective of school level,the policy release has a greater impact on the school district housing of municipal key middle schools than that of district key middle schools;From the perspective of house type,the school district housing premium rate of small house type is more "rigid";(3)The internal reason for the impact of the policy on the school district housing premium rate is that the education equalization reform has restrained the rise of school district housing prices,that is,after the release of the policy,the rise of school district housing prices is lower than that of non-school district housing.In view of the high-quality educational hardware facilities,considering the differences in financial capacity of different regions,the role of central finance should be brought into play to make overall arrangements for the national school educational infrastructure.For high-quality teacher resources,on the one hand,teachers can make full use of the power of the Internet to achieve "famous teacher sharing" through distance teaching and other means,and at the same time,teachers can increase the opportunity to communicate with other teachers through the interactive platform.In addition,by raising the salaries of teachers in weak schools to narrow the differences between schools;On the other hand,teachers’ level can be improved from the source of supply by strengthening the teaching quality of normal schools.For real estate evaluation,it is necessary to realize that the policy of education equalization orientation will have a great impact on housing price,especially the housing price of school district.From the real estate market perspective,the government should continue to emphasize "housing and not speculation",and resolutely curb speculation.And the excess income brought by school district housing transactions can be collected to the finance,so as to reduce speculation in the real estate market and curb "school district fever".When evaluating the value of real estate,it is necessary to consider the changes in the premium brought by the current policy to the surrounding schools,so as to make a comprehensive evaluation of the value of real estate.