The Particularity Of China Housing Prices And Building The Long-term Stable Mechanism

Since the implementation of monetary reform of housing in1998, the housing price of our nation has experienced a process of sustained rising and dedlocking, in particular, after August31,2004when government started full implementation of the "trick, shot, hung" system of the commercial site selling, the housing prices of our nation were showing a accelerate rising trend. By analyzing the indicators of housing price since the implementation of monetary reform of housing and comparing with the foreign countries which the real estate markt is more comprehensive, we derive that the characteristics of our nation’s housing price is dedlocking. On this basis, we make the analysis around the formation mechanism and deep contradictions of the characteristics of China’s housing price, and finally, we build a long-term stable mechanisms of our nation’s housing price from both the institutional and systems.Firstly, I made a study of the overall level of our nation’s housing price, by price earnings ratio, vacancy rate of commercial housing and other indicators of the calculation of home prices in China we accomplish a preliminary measure. To study the housing market abnormal phenomena of China deeply, I established an econometric model to simulate the supply, demand and price trends of China residential market, and forecast residential development of the market in China for next few years. Secondly, by comparing with the foreign countries which the real estate markt is more comprehensive, we derive that the characteristics of our nation’s housing price is dedlocking. On this basis, we make the analysis around the formation mechanism of China’s housing price’s characteristics, and derive the fundamentals of our nation’s deadlocked housing price.In the last part of the thesis, from the perspectives of macro-economic, Environment under which China real estate bubble Problem brings about, the Systematical reasons and some micro factors, some countermeasures will be Proposed pertinently for the China real estate bubble problem.