Research on the Transmission Mechanism of Land Mortgage Scale to the Rise of Commercial Housing Price—Take the Data of Prefecture Level Cities in China as an Example

Abstract

The economic development of the real estate industry in recent years has been a good economic performance. As the transmission signal of real estate economic development trend, house price ushered in a development peak in 2015. The rise of house prices has always been a hot research topic. Previous studies mostly focus on the relationship between supply and demand, macro tax and other aspects, but less from the perspective of land mortgage. This paper selects the land mortgage and commercial housing price data of 297 prefecture level cities to establish the fixed effect model, and finds that the expansion of land mortgage scale will lead to the rise of commercial housing price. As the core force of macro-control, the government should strengthen the supervision of the land mortgage market, strictly control and improve the access threshold; The government should release and develop the land mortgaged by the government and the land not opened by the developers as soon as possible, so as to alleviate the soaring house prices from the supply side. At the same time, in the process of regulation and control, we should also pay close attention to the housing demand, guide the housing price to return to rationality, try to meet the housing demand of the regression due to high housing price, and improve people's livelihood.