Optimal Life-Cycle Housing Renting and Owning Behavior of Chinese Resident’s
نویسنده
چکیده
Abstract: Resident’s housing consumption and investment behavior is an important micro basis of housing policies in China, and has an important influence on the development of real estate market and the structure of housing supply. In this article, I developed a dynamic optimization model base on utility maximization to simulate the housing behavior of Chinese resident during all his life, and analyzed the basic characteristics and internal mechanisms of resident’s housing renting and owning decisions.
منابع مشابه
Optimal Capital Income Taxation with Housing⁄
I quantitatively study the optimal capital income taxation in the general equilibrium overlapping generations model with uninsurable idiosyncratic income shocks and with housing and flnancial assets. Following key characteristics of housing are explicitly modeled: (i) housing is held for the dual purpose of consumption and savings, (ii) housing can be either owned or rented, (iii) if owned, hou...
متن کاملThe Austrian Social Rented Sector at the Crossroads for Housing Choice1
Since the early 1990s, the social rented sector has developed in different directions across Europe. This paper studies the role that the Austrian social rented sector plays at the crossroads of housing choices at different stages in the people’s life-cycles. It highlights the risks facing the Austrian middle classes that social renting may have to address in the future, and asks how the instit...
متن کاملArbitrage in Housing Markets
Urban economists understand housing prices with a spatial equilibrium approach that assumes people must be indifferent across locations. Since the spatial no arbitrage condition is inherently imprecise, other economists have turned to different no arbitrage conditions, such as the prediction that individuals must be indifferent between owning and renting. This paper argues the predictions from ...
متن کاملArbitrage in Housing Markets
Urban economists understand housing prices with a spatial equilibrium approach that assumes people must be indifferent across locations. Since the spatial no arbitrage condition is inherently imprecise, other economists have turned to other no arbitrage conditions, such as the prediction that individuals must be indifferent between owning and renting. This paper argues these non-spatial, no arb...
متن کاملHousing and Wealth Portfolios
The household's decision to invest in a home is complicated by the fact that owner-occupied housing plays a dual role as both a physical good generating housing services, and as a component of the wealth portfolio. For many homeowners, housing represents both the largest single element of the monthly expenditure, and the most important asset in the wealth portfolio. Given the availability of re...
متن کامل