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ID: 120631

Commodity housing and the socio-spatial structure in Guangzhou: a study based on estate-level residential property prices / Flocke, Ryanne; Breitung, Werner; Lixun, Li

Flocke, Ryanne	Journal Article
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2013.

Summary/Abstract

Commodity housing has become a major engine of urban restructuring and social change in China. It is alleged to aid growing residential segregation and urban fragmentation. In this context, housing price is viewed as an important sorting mechanism. This article investigates this claim by looking at Guangzhou's housing market and analysing data of 797 commercial housing estates. It analyses the development of commodity housing and the trends of housing prices in the city and maps the locational patterns of high, middle, or low housing affordability within this sector.

Key Words

Segregation ; Housing Prices ; Guangzhou ; Housing Reform ; Commodity Housing

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ID: 112719

Housing prices and the high Chinese saving rate puzzle / Wang, Xin; Wen, Yi

Wang, Xin	Journal Article
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Publication

2012.

Summary/Abstract

China's over 25% aggregate household saving rate is one of the highest in the world. One popular view attributes the high saving rate to fast-rising housing prices in China. However, cross-sectional data do not show a significant relationship between housing prices and household saving rates. This article uses a simple consumption-saving model to explain why rising housing prices per se cannot explain China's high household saving rate. Although borrowing constraints and demographic changes can translate housing prices to the aggregate saving rate, quantitative simulations of our model using Chinese time-series data on household income, housing prices, and demographics indicate that rising mortgage costs can increase the aggregate saving rate by at most 2 to 4 percentage points in the best down-payment structure.

Key Words

Housing ; Saving Rate ; Chinese Economy ; Borrowing Constraints ; Housing Reform

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