Abstract
By the synthetic control method and monthly panel data of 21 cities from March 2008 to December 2014, this paper analyzes the effects of the mode of housing with common property rights and regulation policy on commodity housing prices of Huangshi City and the sensitivity of housing prices to policies. The results show that the effect of the mode of home with joint property rights on the commodity house price of Huangshi City is not significant, which shows that the commodity house price of Huangshi City is less sensitive to the related regulatory policies. Therefore, this paper suggests that the government should establish new special housing management institutions or adjust, improve the responsibilities of the existing housing management institutions, expand the number of applicants for home with common property rights, especially for those who have the prominent contributions to the society, which can be allowed to apply the housing with the joint property rights even if they are in the middle income level, restructure or standardize the existing management system, laws and regulations and set up an effective management system for participating in the construction and management of home with common property rights.
Highlights
In recent years, the house price has been rising in China
Number 1 represents Huangshi City, the experimental group city that carries out the mode of home with common property rights, and the other J cities don’t carry out this model
By means of the synthetic control method, the paper takes Huangshi City as the experimental group and tanks other 20 cities as the control group to analyze whether the model of home with joint property rights has a certain impact on the commercial house price of Huangshi City
Summary
The house price has been rising in China. as shown in Table 1, Chinese Government has successively promulgated the relevant policies to curb the trend of soaring of the house price because the level of the price of the housing directly affects the people's life. It shows that the model of housing with common property rights does not have significant effect for cities like Huangshi City. By means of the synthetic control method, the paper takes Huangshi City as the experimental group and tanks other 20 cities as the control group to analyze whether the model of home with joint property rights has a certain impact on the commercial house price of Huangshi City. To ensure the validity of synthesis effect, the relatively significant statistical result, and reflect the impact of the implementation of the mode of home with common property rights on the housing price of Huangshi City, the author applied the synthetic control method to make many calculations and verification. The synthetic result of Huangshi City is relatively stable for the result of implement of home with joint property rights
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