The Influencing Factors of Urban Households’ Housing Tenure Choice in Our Country
|School||Dongbei University of Finance|
|Keywords||Housing consumption Tenure choice Binary Logit Mixed Logit|
Housing problem is an important problem which related to national economy and people’s livelihood relationship in our country. With the vigorous development of the real estate market, the choice of housing in the family become topic among the government, developers and scholars. However, the housing development of our country starts late, so research on housing choice is still in its infancy. Three kinds of research mainly exist in housing selection area,which include:tenure,dwelling type and location. Among them, the housing tenure,which consists buy and rent, is the primary part of households’ housing consumption. Under such a background, exploring the influencing factors of households’ tenure choice based on family data has important theoretical significance and practical value.In this paper, based on the research of western mature housing market, and scholars in the field of housing in our country, we use CHNS to build a binary Logit model combining family characteristics and household demographic variables, to carry on the empirical research about the influence factors of urban families’choice on housing tenure. The family characteristics variables includes annual income in the family and family size, household demographic variables includes the head of the household’s age, marital status, education level and occupation type. Based on the original model, we make use of binary mixed Logit model to correct. The conclusion mainly include:1.Most households characteristics variables have remarkable effect on tenure choice, and the effect is positive. Only the householder’s age was not significant.2. The results showed that with the increase of annual income, the family are more likely to buy house; The higher the level of education for the householder, the greater chance for the family buying house; Married couples have greater possibility to buy house; State-owned unit staff are more likely to buy house. l.By reviewwing the western theory and empirical development process of housing tenure choice, and introducing the development of the Logit models systematically,this paper demonstrates models of the binary Logit and mixed Logit.2.Constructed binary Logit model based on variables of the family and household, and carried on the empirical test using the CHNS data for the first time.3.Through the empirical analysis on influence factors of the domestic housing tenure choice, it is helpful to grasp the key to influence residents’housing consumption, so as to guide the family consuming healthily and reasonably, instead of the irrational, rush spree that buy a house, and to guide the healthy development of the real estate market. Provide the basis for the government to formulate scientific and effective macroeconomic policy in the real estate market.