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2014 | Buch

Introduction Kapitel lesen Erstes Kapitel lesen

Housing Affordability and Housing Policy in Urban China

verfasst von: Zan Yang, Jie Chen

Verlag: Springer Berlin Heidelberg

Buchreihe : SpringerBriefs in Economics

Enthalten in: Springer Professional "Wirtschaft+Technik" , Springer Professional "Wirtschaft"

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Über dieses Buch

This book provides a comprehensive analysis of housing affordability under the economic reforms and social transformations in urban China. It also offers an overall review of the current government measures on the housing market and affordable housing policies in China. By introducing a dynamic affordability approach and residual income approach, the book allows us to capture the size of the affordability gap more accurately, to better identify policy targets, and to assess the effectiveness of current public policy. The unique database on urban household surveys and regional information on affordable housing projects serve to strengthen the analysis. The book offers theoretical and empirical insights for in-depth affordability studies and helps readers to understand the social impacts of market reforms and the role of government on the Chinese housing market.

Inhaltsverzeichnis

Frontmatter
Chapter 1. Introduction
Abstract
During the past 20 years, China has made impressive progress in the reformation of its urban housing sector, improving the housing conditions for hundreds of millions within a short period of time. However, the affordability of housing still poses a severe challenge in urban China.
Zan Yang, Jie Chen
Chapter 2. Housing Reform and the Housing Market in Urban China
Abstract
The housing market in Urban China has experienced many important changes since the Communists came to power in 1949. In general, we can divide China’s housing reform into three significant stages: the pre-reform process (between 1949 and 1978), the reform process (from 1978 to 1998) and the post-reform process (after 1998).
Zan Yang, Jie Chen
Chapter 3. Theoretical Background: Affordability and Its Measurement
Abstract
This chapter reviews and discusses the concept of housing affordability and its measure in academic and political studies. Several commonly used methods will be examined to determine the proper approach for Chinese studies.
Zan Yang, Jie Chen
Chapter 4. Housing Affordability in Urban China: National Study
Abstract
This chapter aims to assess the housing affordability conditions for urban residents in China at a national level. We analyse how households’ ability to access and afford urban housing has varied before and after the 1998 reform. We also investigate how affordability varies across households with different incomes. In addition to applying commonly used approaches such as static indictors of price-to-income ratio (PIR) and mortgage-to-income ratio (MIR), we also examine the evolution of affordability using the dynamic approach and insights from the residual income approach are discussed.
Zan Yang, Jie Chen
Chapter 5. Housing Affordability in Urban China: Regional Study
Abstract
In this chapter, we will study housing affordability at the regional level. We start with a general overview of the regional disparity in housing affordability. We then investigate in depth the housing affordability in Beijing to capture the characteristics and distribution of affordability based on both macro and micro data. We also measure the effect of housing privatization on affordability, which provides valuable insights into the causes of housing inequality and its subsequent effects on housing affordability in China.
Zan Yang, Jie Chen
Chapter 6. Effects of Housing Policy on Affordability
Abstract
The fundamental justification for government intervention in the housing market is based on the market characteristics, such as natural monopoly, externalities, imperfect information, and frictions. This chapter provides the theoretical basis to support the government policy in response to the affordability problem. In particular, the public housing strategy is to facilitate the supply of affordable housing to lower-income households through direct or indirect government involvement.
Zan Yang, Jie Chen
Chapter 7. Financing Affordable Housing Through Compulsory Savings
Abstract
Housing finance systems can be categorized into two approaches: market-based institutions that are integrated into the broader financial system versus special circuit institutions that are self-funded and separated from the rest of the financial system (Blanc 2009).
Zan Yang, Jie Chen
Chapter 8. Conclusion
Abstract
Housing affordability remains a complex and contested topic although it has long been a political language in housing policy (Maclennan and Williams 1990; Quigley and Raphael 2004). This could be attributed to the ambiguity of the concept and the way in which it is measured for the purpose of designing policies. Fundamentally, the issue relates to the causes and drivers of the affordability problem and the definition of the role of housing in the whole economic system and the society.
Zan Yang, Jie Chen
Metadaten
Titel
Housing Affordability and Housing Policy in Urban China
verfasst von
Zan Yang
Jie Chen
Copyright-Jahr
2014
Verlag
Springer Berlin Heidelberg
Electronic ISBN
978-3-642-54044-8
Print ISBN
978-3-642-54043-1
DOI
https://doi.org/10.1007/978-3-642-54044-8

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