Study on the influence of housing price on fertility intention in the new development stage

Abstract

In recent years, in order to adapt to the economic and social development and constantly adjust the fertility policy, the improvement of residents' fertility willingness has not reached the ideal level. The reason is that housing is necessary for life. The housing price, as the cost of living and the cost of raising children, has a very significant impact on the current residents' willingness to have children. According to the relevant literature, it can be seen that the influence of housing price on fertility intention is mostly analyzed from two aspects: crowding out effect and wealth effect. Therefore, this study relies on the micro-data of families in recent years to study the influence mechanism of housing prices on the fertility willingness of urban and rural residents. The results show that the housing price has a crowding out effect on the fertility willingness of urban and rural residents, that is, the higher the housing price, the lower the residents' fertility willingness, and other variables also have an impact on the fertility intention, such as gender, annual family income, etc. The housing price also has a wealth effect on the fertility willingness, that is, the higher the housing price, the higher the residents' willingness to reproduce. However, the wealth effect is less than the crowding out effect, so in general, in the new stage of development, the higher the housing price in China, the lower the residents' willingness to have children.