Order type: DissertationSubject: EconomicsAcademic level: Not specifiedStyle: Harvard
My Dissertation topic isthe evolution of the share of real estate in the Chines growthI put the my proposal and my tutor feedback of the proposal in the message u can checkMUST sign the high level TOP 10 writer now give me quality Dissertation .100% make sure pass . Add the proof double check must check all additional file and link the my course upload the draft in every week for my meeting. use Spss to analysis the data MUST According the my proposal write the Dissertation Extend revision timeframe to 30 days as per terms and conditions Follow instructions and no extension for deadline Please send draft for this order within 48 hoursMY proposal EFFECTS OF HOUSE PRICE ON ECONOMIC GROWTH Name Institution Course Date Table of Contents Introduction…………………………………………………………………………….3 The effects of house prices on the economic growth in china………………………….3 Bibliography……………………………………………………………………………5 Introduction Housing is such a critical aspect especially when it comes to economic development. The basis of development in most economies currently lies in the housing sector. With the increased demand for housing, countries have come up with real housing development projects in order to drive the sector. The effects of house price on the economic growth in China The average investment of the Chinese government in terms of development in the past few decades has been highly reliant on the real estate sector. Thanks to the 1998 housing reform in china, the high demand for housing in the country was unleashed laying bear the multiple potential profits in the same. This promoted further development and construction of more houses by the real estate sector in the country (Chen et al, 2014). This led to a resultant commercial housing investment forum which was then responsible for at least 30% of the country’s gross domestic product development. This therefore, holds prove of the high level of economic development available to china thanks to the housing industry (Chen et al, 2014). The prices of houses in china however has been on the ever consistent rise. This inflammatory upward trend in the cost of housing has proven rather critical and threatening in the future of the Chinese government’s economy. The evaluations in the worth of the real estate market within china have rather appeared to be too high and not in accordance with the real market value (East Asia Forum, 2016). Nonetheless, the rising price levels of the housing sector in china have led china to achieve higher economic levels as it cover up for the weak areas in the economy’s income generation. The high prices have led to considerable rise in the GDP of the country with a constant rise of up to 6.5% in a single 3/4 of a year (East Asia Forum, 2016). The insufficient regulation of the price market by the local government has since led to the unstable rise in the price levels of the housing sector in china. As a result, the property market in china faces a real bubble threat as is similar to that of japan over their imperial palace and the subprime crisis of the United States. The ever rising price levels in the Chinese housing sector however raise a cause for alarm. The bubble threat that the country faces gets more close to reality even the more as china edges closer to an economic crisis courtesy of the untamed levels of prices. The incorrect evaluation of the real worth and prices of the real estate and housing prices in china are potentially to cause more harm now than the good it has resulted to should it not be tamed (Chen et al, 2014). Though the real estate developments of china continue to build more houses and designs, the level of occupation of the same is reducing with each passing day as the number of vacancies in the already established projects remains on a consistent rise. This is despite the statistical report of the ever increasing migration of people from the rural areas to the urban centers. This reduction in occupancies and in the embrace of the real urban housing project is as a result of the rather high and insane prices of the houses. Contrary to the initial embrace of the real estate housing that led to the positive growth in china’s economy and GDP, the price of housing is now getting too high and probably unbearable. This has led to the negative reception of the same over the growing years placing the economy of china in a brink of desperation and utter uncertainty (Hongyu, Park & Siqi, 2002). Bibliography Chen, J., Guo, F. and Wu, Y., 2011. One decade of urban housing reform in China: Urban housing price dynamics and the role of migration and urbanization, 1995–2005. Habitat International, 35(1), pp.1-8. Chen, K., and Wen, Y., 2014. The great housing boom in china. Federal Reserve Bank of St. Louis. Available at https://research.stlouisfed.org/wp/2014/2014-022.pdf East Asia Forum, 2016. The risk from china’s property bubble. Available at http://www.eastasiaforum.org/2016/10/24/the-risks-from-chinas-property-bubble/ Hongyu, L., Park, Y., and Siqi, Z., 2002. The interaction between housing investment and economic growth in china. International Real Estate Preview, 5, pp.40-60. Huang, Y. and Clark, W.A., 2002. Housing tenure choice in transitional urban China: a multilevel analysis. Urban Studies, 39(1), pp.7-32. Jim, C.Y. and Chen, W.Y., 2006. Impacts of urban environmental elements on residential housing prices in Guangzhou (China). Landscape and Urban Planning, 78(4), pp.422-434. Shapiro, J.M., 2006. Smart cities: quality of life, productivity, and the growth effects of human capital. The review of economics and statistics, 88(2), pp.324-335. Shuping, L.Y.G.T.H., Yunfang, L. and Tiemei, G., 2006. An Empirical Analysis of Harmonious Development between the Real Estate Industry and the National Economy in Transitional China [J]. Social Sciences in China, 3(006). Xu, X.E. and Chen, T., 2012. The effect of monetary policy on real estate price growth in China. Pacific-Basin Finance Journal, 20(1), pp.62-77. Yunfang, L. and Tiemei, G., 2007. Empirical Analysis on Real Estate Price Fluctuation in Different Provinces of China [J]. Economic Research Journal, 8, pp.133-142.