Separating the consumption and investment demands for housing: Evidence from urban China.

ABSTRACT: Over the last two decades, housing price-oriented regulation of the real estate market has sparked various debates in several contexts, including policy effectiveness and institutional bias. Scholars have explored the broad impact of policies such as land use controls, property taxes, and financial leverage on housing prices. However, very few studies have focused on the role of separating the consumption and investment demands for housing, especially when the housing bubble prevails and the basic living demands of residents are not fully met. This paper proposes a theoretical model and an empirical method to separate the consumption and investment demands for housing. Using data on housing sales prices and housing rental prices in 70 cities in China, we apply the CES effect function to ex

SUBMITTER: Zhou M 

PROVIDER: S-EPMC10616152 | biostudies-literature | 2023 Oct

REPOSITORIES: biostudies-literature