The Phenomenon Of The Paradox Of Co-existence Between The High Housing Price And High Housing Vacancy Of China's Real Estate Market And Its Cause Analysis

The housing price level and vacancy situation is the most important index to evaluate whether the real estate market is mature, healthy or not. Under 20 years' development of China's real estate market, great achievement has been obtained and it has become the pillar industry of national economy. However, the special phenomenon of co-existence between the high housing price and high housing vacancy of China's real estate market which is contradictory to the traditional theory of economics always exists during the development of China's real estate market and the phenomenon has become more and more prominent in recent years.Firstly, the writer collects, analyzes and calculates the housing price, income, housing vacancy area and finished housing area, etc and then after a series of comparison analysis both at home and abroad, the writer points out that the phenomenon of the paradox of co-existence between the high housing price and high housing vacancy of China's real estate market actually exists. Then the writer analyzes the reason why this phenomenon exists and makes a conclusion that the reasons for the existence of this paradox phenomenon is as follows in four points: China's real estate market is disequilibrium through the whole process of its development;funds from the bank interferes the real estate market in a overlarge scale and in a over depth;the Chinese Yuan exchange rate is at its low ratio cycle as well as the existence of the rigidity of the housing price and two of the four reasons listed above is more important:Since high housing price and high housing vacancy are the two primary themes of this article, it is necessary to analyze the relationship between the housing price and housing vacancy. And in this paper, the writer mainly uses the index of housing price and housing vacancy area as well as housing price and vacancy ratio. And then the writer concludes that housing price has a strong connection with housing vacancy area which can be simulated in a beeline;while at the same time, the housing price has nothing to do with the vacancy ratio.Finally, when referring to the solving of the paradox, the writer lists the notions and countermeasures according to the four reasons listed above. In order to achieve the goal of balancing the development of China's real estate market, the writer makes suggestions from five aspects as follows: strengthen the development of market regime, perfect the market system, regulate the behaviors of the market main subjects, implement the control policy with disparity and make full use of the bilateral regulation under the principles;and the author also makes advice that China should make the housing loan application process more strict, avoid real estate loans operation risks and develops the Real Estate Investment Trust (REITs) to solve the problem of the over in-depth interference in the real estate market by the banking funds.In the end of this article, the writer makes a simple expectation for the direction of research job.