Housing prices and son preference: Evidence from China’s housing reform

State Misallocation and Housing Prices: Theory and Evidence from China

The American Economic Review ◽

10.1257/aer.101.5.2081 ◽

2011 ◽

Vol 101 (5) ◽

pp. 2081-2107 ◽

Cited By ~ 63

Author(s):

Shing-Yi Wang

Keyword(s):

Large Scale ◽

Housing Prices ◽

Theoretical Framework ◽

Equilibrium Price ◽

The State ◽

Housing Reform ◽

Price Effects ◽

Private Market ◽

Housing Assets ◽

Price Distortions

This paper examines the equilibrium price effects of the privatization of housing assets that were previously owned and allocated by the state. I develop a theoretical framework that shows that privatization can have ambiguous effects on prices in the private market, and that the degree of misallocation of the assets prior to privatization determines the subsequent price effects. I test the predictions of the model using a large-scale housing reform in China. The results suggest that the removal of price distortions allowed households to increase their consumption of housing and led to an increase in equilibrium housing prices. (JEL L33, O18, P25, R31, R38)

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Generational variations in the timing of entry into homeownership in Shanghai: The role of family formation and family of origin

Urban Studies ◽

10.1177/00420980211040947 ◽

2021 ◽

pp. 004209802110409

Author(s):

Xueying Mu ◽

Can Cui ◽

Wei Xu ◽

Junru Cui

Keyword(s):

Family Of Origin ◽

Family Formation ◽

Housing Prices ◽

Housing Demand ◽

Housing Affordability ◽

Housing Reform ◽

Cultural Transformations ◽

Parental Background ◽

Changing Roles

Radical housing reform has triggered tremendous changes in both housing supply and housing demand in China over the past four decades, leading to apparent generational fractures in homeownership. In contrast to the rising age of first dwelling purchasers in some Western countries, younger cohorts in China are entering homeownership at increasingly younger ages despite rising housing prices. Based on a retrospective survey conducted in Shanghai in 2018 and 2019, this study examines the changing roles of family formation and parental background in affecting the timing of entering homeownership across different cohorts. Employing event history analyses, this study demonstrates that transitions to first homeownership have become synchronised with family formation among younger cohorts, which implies the social norm of ‘marital home’. Furthermore, the results reveal that parental background is increasingly influential in determining the timing of first home purchase; men and individuals from one-child families are more likely to be the beneficiary of parental help to enter homeownership. Through the lens of cohort, this study contributes to understanding the changing role of family formation and family of origin, which are shaped by institutional and cultural transformations in China. The intensified intergenerational transmission leads to exacerbation of horizontal housing inequality, that is, some achieving homeownership at a younger age while others being shunned from homeownership in the context of worsening housing affordability.

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Housing Inflation: Policy Guidelines from Shariah Perspective

The Journal of Muamalat and Islamic Finance Research ◽

10.33102/jmifr.v16i1.209 ◽

2019 ◽

Vol 16 (1) ◽

pp. 70-81

Author(s):

Azrul Azlan Iskandar Mirza ◽

Asmaddy Haris ◽

Ainulashikin Marzuki ◽

Ummi Salwa Ahmad Bustamam ◽

Hamdi Hakiem Mudasir ◽

...

Keyword(s):

Content Analysis ◽

Housing Prices ◽

Construction Materials ◽

Housing Price ◽

Developed Countries ◽

Control Element ◽

Recent Issue ◽

Analysis Methodology ◽

The Government ◽

Developing And Developed Countries

The soaring housing prices in Malaysia is not a recent issue. It is a global phenomenon especially in developing and developed countries, driven by factors including land price, location, construction materials cost, demand, and speculation. This issue demands immediate attention as it affects the younger generation, most of whom could not afford to buy their own house. The government has taken many initiatives and introduced regulations to ensure that housing prices are within the affordable range. This article aims to introduce a housing price control element from the Shariah perspective, as an alternative solution for all parties involved in this issue. It adopts content analysis methodology on policy from Shariah approved sources.

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