Open AccessMeasurement and Analysis of Housing Price Bubbles in 35 Large and Medium-Sized Cities: An Empirical Study Based on China’s Statistical Data from 2010 to 2018
Author(s) -
Gangqiang Luo,
Qin Wang
Publication year - 2020
Publication title -
iop conference series. materials science and engineering
Language(s) - English
Resource type - Journals
eISSN - 1757-899X
pISSN - 1757-8981
DOI - 10.1088/1757-899x/780/7/072001
Subject(s) - china , economics , profit (economics) , function (biology) , value (mathematics) , bubble , econometrics , scale (ratio) , economic bubble , microeconomics , macroeconomics , geography , statistics , mathematics , computer science , archaeology , cartography , evolutionary biology , parallel computing , biology
Based on the basic assumptions of the developers and the buyers in the housing market, this paper introduced the profit function of typical developers and the utility function of typical buyers as building the equilibrium price model of housing, and constructed the decision model between the basic value of housing, the bubbles of housing price and the degree of housing price bubbles. The absolute scale and relative scale of housing price bubbles in 35 large and medium-sized cities were calculated based on the above models. A comparative analysis was conducted on the bubble level of housing prices in 35 large and medium-sized cities in China from 2010 to 2018. Results indicated that the bubbles had an increasing trend in recent years, but there were obvious differences between cities. Housing market regulation policy should take account of the differences between cities.