Analysis Of The Impact Of Housing Provident Fund System On The Housing Price In China

With the development of China's real estate market,the housing provident fund system is constantly developing and improving,and its positive role in ensuring the housing needs of employees is widely recognized.The implementation of the housing provident fund system has improved the housing consumption capacity of residents and increased the demand for housing in the market which promoted the rise of urban housing prices at the same time.In the current high housing prices,clarifying the impact of the housing provident fund system on housing prices has practical significance for improving the housing provident fund system.This paper first reviews the related researches of scholars at home and abroad on the housing provident fund system and housing prices,and summarizes the impact of the housing provident fund system on housing prices.Secondly,it sorts out the relevant theories,main features and influencing factors of housing provident fund system.On this basis,the use of supply and demand Principle,analyze its specific path to the impact of housing prices;then introduce the development status of China's housing provident fund system,existing problems and its relevance to housing prices,and discuss the coverage of housing provident fund system in various sample cities,general housing provident fund loans,support The difference between the total construction of affordable housing and housing prices,it is estimated that the impact of housing accumulation fund system in different cities on housing prices may be different;then based on theoretical analysis and statistical analysis,the sample data is gradually returned to detect the impact of the housing provident fund system on housing prices Scientifically,at the same time,it returns to the data of various cities and finds that there are differences in the impact of housing accumulation fund system on housing prices.Because of the spatial correlation and regional differences in housing prices,this paper constructs a geographic distance weight matrix and uses space meters.Robust test model,the empirical results more scientific;Finally,according to the empirical results,put forward suggestions to improve various types of urban housing accumulation fund system.The empirical results show that the path of the housing provident fund system considering the supply and demand theory has a theoretical basis and is scientific.The housing provident fund system will promote the rise of housing prices,and there are differences among various cities.The first-tier cities' general housing provident fund loans have a greater impact on house prices.The second-tier cities' housing provident fund system mainly affects housing prices by affecting the settlement of floating population.In addition,the increase in the supply of affordable housing supported by the housing provident fund is greater than the substitution effect on commercial housing.On the contrary,it has promoted the rise of housing prices;the coverage of the housing provident fund system in third-tier cities is relatively low,so that the general housing provident fund loans have less impact on housing prices.Based on the above qualitative and quantitative analysis,this paper gives suggestions for improving the housing accumulation fund system of various types of cities in China from three aspects: improving the coverage of housing provident fund system,implementing ex-situ loans and differential credit,and rationally introducing social capital to support the construction of public rental housing.