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Population aging, financial support, and household housing expenditure

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  • Gong, Zhonghang
  • Fang, Jinfeng
  • Hu, Yuhang

Abstract

Based on panel data from 31 provincial-level administrative regions in China (excluding Hong Kong, Macao, and Taiwan) from 2003 to 2023, this study investigates the relationships among population aging, financial support, and household housing expenditure. The findings indicate that population aging significantly reduces household housing expenditure, while financial support significantly increases it. Further analysis of moderating effects reveals that financial support plays a significant moderating role in the relationship between population aging and household housing expenditure. In addition, results from heterogeneity tests show that the suppressive effect of population aging on housing expenditure is more pronounced in areas with low population density; conversely, in regions with greater government intervention, the positive effect of financial support on housing expenditure is stronger. The conclusions of this study have important practical implications for improving housing financial policies, alleviating consumption pressures brought about by population aging, and promoting the healthy development of the housing market.

Suggested Citation

  • Gong, Zhonghang & Fang, Jinfeng & Hu, Yuhang, 2026. "Population aging, financial support, and household housing expenditure," Finance Research Letters, Elsevier, vol. 87(C).
    • Handle: RePEc:eee:finlet:v:87:y:2026:i:c:s1544612325022445
    DOI: 10.1016/j.frl.2025.108991
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    References listed on IDEAS

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