IDEAS home Printed from https://ideas.repec.org/a/fip/fedles/y2013n13.html
   My bibliography  Save this article

The great Chinese housing boom

Author

Listed:
  • Brett W. Fawley
  • Yi Wen

Abstract

Significant store-of-value demand for housing suggests a bubble that could burst, especially when both the household income growth rate and the savings rate start to decline and capital controls in China start to relax.

Suggested Citation

  • Brett W. Fawley & Yi Wen, 2013. "The great Chinese housing boom," Economic Synopses, Federal Reserve Bank of St. Louis.
    • Handle: RePEc:fip:fedles:y:2013:n:13
    as

    Download full text from publisher

    File URL: http://research.stlouisfed.org/publications/es/13/ES_13_2013-05-03.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Wu, Jing & Gyourko, Joseph & Deng, Yongheng, 2012. "Evaluating conditions in major Chinese housing markets," Regional Science and Urban Economics, Elsevier, vol. 42(3), pages 531-543.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wei Zhou & Alice Moncaster & David M Reiner & Peter Guthrie, 2019. "Estimating Lifetimes and Stock Turnover Dynamics of Urban Residential Buildings in China," Sustainability, MDPI, vol. 11(13), pages 1-18, July.
    2. repec:zbw:bofitp:2014_007 is not listed on IDEAS
    3. Zhou, Wei & Moncaster, Alice & O'Neill, Eoghan & Reiner, David M. & Wang, Xinke & Guthrie, Peter, 2022. "Modelling future trends of annual embodied energy of urban residential building stock in China," Energy Policy, Elsevier, vol. 165(C).
    4. Iris Claus & Les Oxley & Jie Chen & Xuehui Han, 2014. "The Evolution Of The Housing Market And Its Socioeconomic Impacts In The Post-Reform People'S Republic Of China: A Survey Of The Literature," Journal of Economic Surveys, Wiley Blackwell, vol. 28(4), pages 652-670, September.
    5. Zhou, Wei & O'Neill, Eoghan & Moncaster, Alice & Reiner, David M. & Guthrie, Peter, 2020. "Forecasting urban residential stock turnover dynamics using system dynamics and Bayesian model averaging," Applied Energy, Elsevier, vol. 275(C).
    6. Hong, Lixuan & Zhou, Nan & Feng, Wei & Khanna, Nina & Fridley, David & Zhao, Yongqiang & Sandholt, Kaare, 2016. "Building stock dynamics and its impacts on materials and energy demand in China," Energy Policy, Elsevier, vol. 94(C), pages 47-55.
    7. Bian, Timothy Yang & Gete, Pedro, 2015. "What drives housing dynamics in China? A sign restrictions VAR approach," Journal of Macroeconomics, Elsevier, vol. 46(C), pages 96-112.
    8. Miao, Jianjun & Wang, Pengfei, 2014. "Sectoral bubbles, misallocation, and endogenous growth," Journal of Mathematical Economics, Elsevier, vol. 53(C), pages 153-163.
    9. Christian Dreger & Tongsan Wang & Yanqun Zhang, 2015. "Understanding Chinese Consumption: The Impact of Hukou," Development and Change, International Institute of Social Studies, vol. 46(6), pages 1331-1344, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Peng Wang & Xiaoyan Lin & Dajun Dai, 2017. "Spatiotemporal Agglomeration of Real-Estate Industry in Guangzhou, China," Sustainability, MDPI, vol. 9(8), pages 1-15, August.
    2. Franklin Allen & Jun & Chenying Zhang & Mengxin Zhao, 2012. "China's Financial System: Opportunities and Challenges," NBER Chapters, in: Capitalizing China, pages 63-143, National Bureau of Economic Research, Inc.
    3. Shujun Chao & Shanyong Wang & Haidong Li & Shu Yang, 2023. "The power of culture: Does Confucian culture contribute to corporate environmental information disclosure?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2435-2456, September.
    4. Charles Ka Yui Leung & Joe Cho Yiu Ng & Edward Tang, 2020. "Why is the Hong Kong Housing Market Unaffordable? Some Stylized Facts and Estimations," Globalization Institute Working Papers 380, Federal Reserve Bank of Dallas.
    5. Tsai, I-Chun & Chiang, Shu-Hen, 2019. "Exuberance and spillovers in housing markets: Evidence from first- and second-tier cities in China," Regional Science and Urban Economics, Elsevier, vol. 77(C), pages 75-86.
    6. Mark Rosenzweig & Junsen Zhang, 2014. "Co-residence, Life-Cycle Savings and Inter- Generational Support in Urban China," Working Papers 1039, Economic Growth Center, Yale University.
    7. Wu, Guiying Laura & Feng, Qu & Li, Pei, 2015. "Does local governments’ budget deficit push up housing prices in China?," China Economic Review, Elsevier, vol. 35(C), pages 183-196.
    8. Carlos Garriga & Aaron Hedlund & Yang Tang & Ping Wang, 2023. "Rural-Urban Migration, Structural Transformation, and Housing Markets in China," American Economic Journal: Macroeconomics, American Economic Association, vol. 15(2), pages 413-440, April.
    9. Waxman, Andrew & Liang, Yuanning & Li, Shanjun & Barwick, Panle Jia & Zhao, Meng, 2020. "Tightening belts to buy a home: Consumption responses to rising housing prices in urban China," Journal of Urban Economics, Elsevier, vol. 115(C).
    10. Deng, Yongheng & Morck, Randall & Wu, Jing & Yeung, Bernard, 2011. "Monetary and Fiscal Stimuli, Ownership Structure, and China's Housing Market," Ratio Working Papers 173, The Ratio Institute.
    11. Kaiji Chen & Yi Wen, 2017. "The Great Housing Boom of China," American Economic Journal: Macroeconomics, American Economic Association, vol. 9(2), pages 73-114, April.
    12. Yongheng Deng & Joseph Gyourko & Jing Wu, 2012. "Land and House Price Measurement in China," NBER Working Papers 18403, National Bureau of Economic Research, Inc.
    13. Niu, Dongxiao & Sun, Weizeng & Zheng, Siqi, 2021. "The role of informal housing in lowering China’s urbanization costs," Regional Science and Urban Economics, Elsevier, vol. 91(C).
    14. Wang, Caiping & Dai, Shanshan & Xu, Honggang, 2018. "Estimating the land opportunism of hotel investment in generating real estate appreciation and firms’ market value," Land Use Policy, Elsevier, vol. 77(C), pages 752-759.
    15. Cai, Zhaoyang & Liu, Zhexi & Zuo, Siming & Cao, Shixiong, 2019. "Finding a Peaceful Road to Urbanization in China," Land Use Policy, Elsevier, vol. 83(C), pages 560-563.
    16. Lan, Hao & Moreira, Fernando & Zhao, Sheng, 2023. "Can a house resale restriction policy curb speculation? Evidence from a quasi-natural experiment in China," International Review of Economics & Finance, Elsevier, vol. 83(C), pages 841-859.
    17. Klaus Deininger & Songqing Jin & Shouying Liu & Fang Xia, 2020. "Property rights reform to support China’s rural ‐ urban integration: household‐level evidence from the Chengdu experiment," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 64(1), pages 30-54, January.
    18. Mylène Gaulard, 2014. "Les dangers de la bulle immobilière chinoise," Revue Tiers-Monde, Armand Colin, vol. 0(3), pages 77-96.
    19. Rose Neng Lai & Robert Van Order, 2019. "Shadow Banking and the Property Market in China," International Real Estate Review, Asian Real Estate Society, vol. 22(3), pages 361-399.
    20. Zhenxi Chen & Cuntong Wang, 2020. "Speculative trading in Chinese housing market: a panel regression method," Applied Economics, Taylor & Francis Journals, vol. 52(38), pages 4186-4195, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedles:y:2013:n:13. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Anna Oates (email available below). General contact details of provider: https://edirc.repec.org/data/frbslus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.