Regional Housing Prices,labor Flow And The Real Economy Agglomeration

In recent years,China’s real estate market has developed rapidly and the real economy has been weak.The tendency of the real economy to “get out of solidity” has intensified,and China’s economy is facing the challenge of “hollowing out industry”.At the same time,high housing prices increase the cost of living of the labor force and the production cost of the company.This will obviously change the flow of labor and thus affect the agglomeration and development of the real economy.The paper attempts to introduce the price and labor heterogeneity into the model under the framework of the new economic geography,to explore the internal mechanism of regional housing prices differences affecting heterogeneous labor mobility,and proceed from the decision of heterogeneous labor mobility to discuss the impact on the agglomeration of regional real economy.On the basis of theoretical analysis,we use the panel data of 30 provinces in China from 2000 to 2015 to conduct empirical analysis.Affected by the heterogeneous labor force,the rise in relative house prices led to the outflow of low-skilled labor,but the accumulation of highly-skilled labor forces,it will change the regional workforce structure;The impact of relative house prices on the real economy is lagging.Therefore,on the basis of considering the spatial spillover effect,spatial econometric methods are used to conduct in-depth research on regional relative house prices,labor mobility,and real economy agglomeration,and the space for each factor is analyzed.Contact and interaction to clarify the factors that affect the development of the real economy.It is found that in the short term,the increase in relative house prices will promote the concentration of technical talents and will have less restraining effect on the real economy.It will help the real economy achieve an agglomeration effect.In the long-term relative house prices,it will have a greater inhibitory effect on the real economy and increase the industry."Hollowing" risk.In summary,to achieve a healthy development of the real economy in the context of large differences in housing prices,it is necessary to organically combine regional price controls with labor mobility and real economy agglomeration.Attention must be paid to the spatial linkage effect of heterogeneous labor flows and economic factors,and to guide an orderly flow of heterogeneous labor can promote the rational development of regional real economy and prevent the occurrence of “industrial hollowing out”.Specifically speaking,it is necessary to implement real estate price control policies according to local conditions and promote the reasonable return of housing prices;Promote the rational and orderly flow of heterogeneous labor;According to the reconstruction of the heterogeneous labor force,the real economy will be revitalized.