Equilibrium between interest payments and income in the housing market

The literature on housing markets suggests that house prices in almost all western economies can be explained by short-run demand-oriented variables and a long-run term. The basic principles of the theory are that the short-run fluctuations, which are based on recent price developments (shocks), occur due to market imperfection, while over the long term, causality with such fundamentals as income will recover. Nonetheless, many of the interesting questions in housing economics concern adjustments toward equilibrium. This paper seeks to identify a long-run equilibrium between interest payments and household income (interest-to-income ratio) instead of between house prices and income (price-to-income ratio).

Stagnation in Dutch housing production and suggestions for a way forward

This paper examines the stagnation of the Dutch housing production in the late 1990s and identifies possibilities for raising production in the near future. Dutch housing production is placed in a theoretical and historical context. Special attention is devoted to the relationship between housing production, price developments, the economic cycle and urbanization policy. These form the basis for an explanation of the stagnation of Dutch housing production. In addition, it identifies a number of obstructive and disruptive influences in play. Because these are partly steered by government policy, the government needs to re-think its role in the housing (construction) market.     

网络技术在住房公积金监管中的应用

本文主要结合网络技术和信息技术,详细阐述部、省、市三级住房公积金监管网络的构建。     

Housing intermediary services in China: the rise and fall of ‘Fang Wu Yin Hang’

Housing reforms in China are often conceived to have engendered a gradual shift towards a market system. New institutions have been introduced to enable decentralized, monetarized and privatized allocation of housing units. This study explores the emergence, growth and downfall of an intermediary service (known as ‘fang wu yin hang’) created spontaneously by real estate agents to facilitate housing transactions in the Chinese cities. Although this new institution looked capable of strengthening the rationality, efficiency, transparency and impersonality of China’s housing market, it was abandoned soon after its inception. The failure of this transient service suggests the presence of some social institutions, which could have blocked China’s progress towards a full-fledged market system in the housing sector.

Housing Attainment of Immigrants from the former Soviet Union in Israel: A Cost/Benefit Approach

The present study examines the extent that national housing policy and demographic and human capital factors affect the odds of homeownership and quality of housing. A cost/benefit theoretical conceptualization with a sample of 19 000 Russian immigrants who arrived in Israel in 1989-90 was used to examine how the benefits of homeownership (location, size and pricing) 'stood against' a set of costs (commuting time required, housing age and size). A set of demographic and human capital factors were employed to control for socio-economic effects such as age, gender, family size, labour force participation and occupational status. The benefits of homeownership for immigrants in Israel also proved to involve some costs: migrating to smaller localities and commuting to metropolitan areas where occupational opportunities are higher. The findings suggest that while homeownership is widespread, it imposes a burden on new immigrants as well. This implies that social policy with regard to housing, especially low-priced housing, should consider the possibility of expanding public and market services in an appropriate way that will increase social inclusion and lessen the likelihood of structural segregation.     

当代中国乡村建设中的适宜技术生态实践研究

文章从传统材料的优化利用、能源利用的技术策略、新型建筑系统三个方面总结了适宜技术生态策略,并分类归纳梳理了当代中国乡村营造活动中适宜技术生态手段的实践应用,旨在为未来国内乡村建设活动提供参考。     

探索日本资源循环型住宅技术手法对居住模式与行为空间的影响

本文以资源循环型住宅理念为指导,以日本大阪燃气有限公司开发的Next21实验住宅为例,介绍在全生命周期的各个阶段中应用的设计手法和技术应用。以及从日本住宅长期援助计划的技术体系策略中居住舒适度的重要性出发,针对我国应用资源循环型住宅技术设计的居住体验模式进行了实地调研和分析。通过居住者的使用体验、需求反馈的调研分析,进一步研究了我国现有住宅使用情况。从而为资源循环型住宅在我国的本土化设计方法提供了理论基础。     

大城市住房建设中的空间失配及其成因解析——以上海市为例

试图从空间失配角度解读上海大都市区化进程中的住房问题,并提出政策建议。立足统计数据,采用空间偏离指数与空间断面分析法对住房建设展开研究,发现住房制度改革以来增量住房建设的空间偏离、公共服务设施的极化供给、轨道交通建设问题都导致了住房建设的空间失配。这在推高房价、导致低收入群体空间锁定的同时,也降低了“多中心”规划实践的空间绩效。结论是：过于单一的商品化供应、缺乏协调的住房行动、圈层蔓延的空间拓展都是住房空间失配的重要成因;意图解决大城市住房困境的政策干预需要破解住房建设中存在的空间失配困境;而这有赖于中观层面居住、就业等功能的空间藕合与微观层面“多层次”住房供应的有效结合。     

Does the tender,auction and listing system in land promote higher housing prices in China?

Using monthly data on national housing prices from July 1998 to June 2015, we investigate the effect of the ‘Tender, Auction and Listing’ (hereafter TAL) system on housing prices in land, implemented on 31 August 2004. We apply the additional polynomial regression discontinuity method which effectively eliminates the effects of several confounding factors such as financial crisis, ‘New National Ten Provisions’ and ‘9.30 New Regime’. We find that, although the TAL has caused the national average housing prices to go up by 10%, accounting for 11% of total increase in housing prices in the last year, it does not constitute the major driver for housing prices. Furthermore, our results indicate that TAL has exerted a larger impact on commercial and residential properties, especially in the middle and west regions. By examining the transmission mechanisms, we find that the effects of TAL are mainly via government’s starvation-style land supply effect and market-reshuffling effect.     

“Thank heavens for the lease”: histories of shared ownership

Drawing on and developing Kingdon’s multiple streams analysis, this article examines the development of one aspect of the UK’s low cost home ownership programme: shared ownership. We demonstrate how key human and non-human policy entrepreneurs were able to set the agenda from 1973–1983 in favour of shared ownership; they neutralized the alternatives, while retaining some of their instruments; and solved a number of early problems by bringing key players into the programme. Our data-sets include a range of archival material and elite interviews. The policy entrepreneurs included John Stanley (who was the housing minister in the First Thatcher government), the National Federation of Housing Associations, and the Building Societies Association. Our development of the multiple streams analysis is to argue that documents, including the lease, act as policy entrepreneurs in their own right. The lease was central to the development of shared ownership and its transformation into a model lease enrolled other organizations, most critically the building societies.