Research On Influencing Factors Of Real Estate Price In The United States And The Enlightenment

Real estate prices in the United States have experienced a cyclical pattern of changes since the 1990 s.The subprime mortgage loan in the United States developed rapidly especially from 2000 to 2006,the real estate market was booming,and house prices grew strongly.However,the real estate bubble began to burst in early 2007 and house prices began to decline overall.Since 2012,house prices have begun to rebound with the economic recovery.This paper studies the cyclical patterns of house prices in the United States and the influencing factors of house prices to provide a theoretical basis and technical support for China to regulate house prices,which is conducive to the healthy development of China's real estate market.This article first elaborates the theory of supply and demand in the real estate market,then analyzes the mechanism of the impact of various factors on housing prices,and reviews the characteristics of the change in the US housing price index from 1991 to 2016,and analyzes the impact of various factors in the United States on the price index.Empirical study of various factors using a panel data model.The degree of influence of the US housing price index shows that disposable income,unemployment rate,the federal funds rate,and money supply have a significant impact on the US housing price index.In different stages,disposable income,the federal funds rate,and money supply have different ways and degrees influence on the housing price index.At the same time,through the analysis of the influencing factors of the house price index in the United States,it is concluded that disposable income has the greatest impact on the housing price index in the South Atlantic.Unemployment has the greatest impact on the housing price index in New England,Mid-Atlantic,Mountainous,and Pacific regions.The federal funds rate has the greatest impact on the housing price index in the New England,Mid-Atlantic,South Atlantic and Pacific regions.Finally,through the analysis of the real estate market in the United States,we can draw inspiration from the macro-control of the real estate market in China.