Influence of the Financing Effect of House Mortgage Credit on House Price
Cui Xinming
Traditional theories agree that consumer financing affects the demand for house, but opinions vary as to whether it affects house price. By carrying out an empirical study on a microfundation house price model which helps show the dynamic relation between the choices of mortgage modes consumers make and the changes in house price, the paper holds that there are remarkable connections between the two factors. Furthermore, it comes to the conclusion that house price will become more sensitive to income changes if mortgage credit is introduced into the real estate market.
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