ABSTRACT
In the development of regional economic and urbanization process,some regions
and cities have rapid rise in house prices ,which has not only affected the general
public’s wealth accumulated for a long-term ,but more deeply has an impact on the
public’s purchasing power of a reasonable house.It is very important to correctly
recognize the factors which have the most important impact on the housing purching
power and accordingly make some relevant macroeconomic policy ,financial ,tax
policies to iron macroeconomic volatility and enhance the housing purchasing power of
urban residents.
Shanghai is one of the China’s most developed cities,especially the estate maket’s
development.Shanghai’s housing price is very high above the other cities.Because of its
relatively high prices and an enlarging gap among the social strata,many low-income
families can not afford the house badly,this is largely due to the uncoordinated damand
and supply structure.In 2008,the financil crisis caused by sub-prime mortgage in U.S
have taken effection over the whole world,and china have been involed in it.
The real estate market have been taken into recession period,the emergency of
the ”new eight-point” policy have play positive role in the consumption of the house in
short term,the last two month of 2008 have turned up a prosperity,especially in 2009,
the housing price began to abnormal surge and reached a record high in July.This is not
only a simple rigid demand supporting the market,but there are more investment and
speculative factors in the market.The majority of house buyers are still hovering in the
housing market.The higher housing price have a strong blow to the enthusiasm to
them.So the study about the housing purchasing power of urban residents in shanghai
presently is very pressing.The recovery of the housing market need the improvement of
the macroeconomic situation,the return to normal of housing prices,the confidence of
buyers,especially the sufficient buying power to afford the necessary house.
Housing problems are related to the public’s happiness and well-being,the solving
about these problems has a direct impact on the economic’s sustained and stable
development and the stability and unity of the city.This paper attempts to do qualitative
and quantitative analysis of the residential housing purchasing power in shanghai and
make comprehensive analysis about the other cities.According to consider the various
income groups and calculate the index of housing purchasing power to analysis the