Chapter 1 Controversy on Urban House Prices in China ....................／1
Main Points in the Chapter ...........................................／1
1.1 Process of Goverment’s Macro-Control on House Price ............／2
1.2 Questions and Confusion .........................................／4
1.3 Controversy on Chinese Real Estate Bubble .......................／6
1.4 House Price and Land Price ......................................／10
1.5 Developer and House Price Rising ................................／16
1.6 Government’s Macro-control and House Price Rising ..............／24
1.7 Investors ,Civil Buyers and House Price .........................／35
1.8 Foreign Buyers,“ Limit Foreign Capital Order” and House Price .／40
1.9 Turn Point Theory,Returning the Purchased House
and Saving the Real Estate Market ..............................／52
Chapter 2 House Prices Evaluation System ................................／61
Main Points in the Chapter ...........................................／61
2.1 House Price Theory ..............................................／62
2.2 House Price Evaluation System ...................................／72
2.3 Distorted Real Estate Price Index ...............................／81
2.4 Perplexing House Price to Income Ratio ..........................／87
2.5 Specious Vacancy Rates ..........................................／93
2.6 The Per-Capita Living Space Is Worthy of Reflection .............／100
2.7 House Ownership Rate High or Not? ...............................／102
2.8 Real Estate Statistical Data Based on Different Definitions .....／105
Chapter 3 Characteristics of Chinese Urban House Price Changes ..........／109
Main Points in the Chapter ...........................................／109
3.1 Data and Model ..................................................／110
3.2 Characteristics of Chinese Urban House Price Changes ............／117
3.3 Chinese Urban House Prices and Investment .......................／122
3.4 Chinese Urban House Price and Consumption .......................／124
Chapter 4 Chinese Urban House Supply and Demand .........................／128
Main Points in the Chapter ...........................................／128
4.1 Chinese Urban House Demand Model and Prediction .................／129
4.2 Chinese Urban House Supply Model and Prediction .................／135
4.3 Chinese Urban House Market Supply and Demand Equilibrium ........／136
4.4 Chinese Urban House Supply Model Based on PANEL DATA ............／140
4.5 Chinese Urban House Demand Model Based on PANEL DATA ............／148
4.6 Chinese Urban House Price Model Based on PANEL DATA .............／157
4.7 Reflection on “Save the Real Estate Market” Based
on the Results from Models .....................................／166
Chapter 5 The Structural Unbalance of Chinese Urban House
Prices and Real Estate Market ................................／169
Main Points in the Chapter ...........................................／169
5.1 Residents’ Ability to Purchase House Decline Rapidly ...........／170
5.2 The Structural Unbalance of House Market Is Apparent ............／176
5.3 The House Price Formation Mechanism Is Distorted ................／181
5.4 Heavy Responsibilities Are Left for Structural Adjustment
and a Long Way to Go ...........................................／189
5.5Revoluation on Behave of House Consumption Is Coming ..............／193
Chapter 6 The Structural Unbalance of House Price
and Real Estate Market of Beijing ............................／201
Main Points in the chapter ...........................................／201
6.1 Olympic Games and Beijing Real Estate Market ....................／202
6.2 The Argument about Real Estate Market of Beijing after
Olympic Games ..................................................／205
6.3 The Development Process of Real Estate Market of Beijing ........／208
6.4 Structural Unbalance in Beijing House Market Is Apparent ........／217
6.5 Controlling Total Quantity, Adjusting the Structure,
Starting the Meduim Market .....................................／226
6.5 Reflection of the House Problem in Mega Cities ..................／235
Chapter 7 House Price,Enterprises Game and Government’s
Macro-Control ................................................／240
Main Points in the Chapter ...........................................／240
7.1 House Price,Monopoly and Developers Game ........................／241
7.2 House Price,Credit and Financing Game ...........................／251
7.3 House Price,Right to Speak and Policy Game ......................／261
7.4 International Experience and Lessons of the Government ..........／265
7.5 The Principle and Boundary of the Government’s Macro-Control ...／274
Chapter 8 Unbalance and Restruction .....................................／280
Main Points in the Chapter ...........................................／280
8.1 Five Perplexing Questions Exist on the Development
of House Industry in China .....................................／281
8.2 Restructure the House Industry Policy System in China ...........／288
8.3 Controlling Total Quantity, Adjusting the Structure,
and Restructure the House Market System ........................／291
8.4 The Solution of Income distribution,the Establishment
of House Security System .......................................／298
8.5 House Financial Policy Innovation Is Necessary ..................／303
8.6 Establish Information Disclosure Mechanism Cannot Be Delay ......／308
8.7 Improve Government’s Macro-Control Is a Heavy
Responsibility and Has a Long Way to Go ........................／311
References ...............................................................／314
Description:
In the recent years, China’s urban house price has become a conundrum: the greater macro-control the government makes, the higher house price comes out to be; the growth of consumers’ income couldn’t exceed that of house price. The house price in China began to fall in the context of the international financial crisis, but trading volume didn’t increase. According to establish the data model, and by means of statistical data of 31 provinces, the book made a study on fluctuation and formation mechanism about China’s house price, it gave reasonable explanation on house price puzzle in China.
