How does the Macro Policy work in Housing Market of China?
DOI:
https://doi.org/10.54691/bcpbm.v30i.2497Keywords:
Real Estate Market; ITS Regression Analysis; The Health of Real Estate Market; Housing price; Correlation.Abstract
China's housing industry is booming, but it is in its start-up stage, which, together with the complexity of the real estate market, has led to various problems in the real estate market, seriously affecting the sustainable, stable and health development of the real estate market. This study starts from defining the connotation of the health of real estate market, using quantitative analysis tools such as ITS regression analysis, referring to existing research results, and taking into account the characteristics of the domestic real estate market, to establish the concept of the health of real estate market, and to study the correlation between the health of real estate market and various macroeconomic influencing factors. The empirical results find that only housing policy and financial policy have substantial effects on housing prices in the short term. In the long run, none of the four major policies in the empirical results has a long-run effect on the selected dependent variable. Finally, policy recommendations are proposed for the government.
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