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Housing in China's Urbanization Process
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| 자료유형 | 학위논문 |
|---|---|
| 서명/저자사항 | Housing in China's Urbanization Process. |
| 개인저자 | Tang, Zequn. |
| 단체저자명 | State University of New York at Albany. Sociology. |
| 발행사항 | [S.l.]: State University of New York at Albany., 2019. |
| 발행사항 | Ann Arbor: ProQuest Dissertations & Theses, 2019. |
| 형태사항 | 197 p. |
| 기본자료 저록 | Dissertations Abstracts International 81-03A. Dissertation Abstract International |
| ISBN | 9781085680035 |
| 학위논문주기 | Thesis (Ph.D.)--State University of New York at Albany, 2019. |
| 일반주기 |
Source: Dissertations Abstracts International, Volume: 81-03, Section: A.
Advisor: Liang, Zai. |
| 이용제한사항 | This item must not be sold to any third party vendors. |
| 요약 | Housing is the most important component of household assets in urban China. The economic strata increasingly depend on the distribution of assets rather than merely on the income, and the distribution of assets increasingly depends on the distribution of housing wealth in Chinese society. This unprecedentedly high status of housing is achieved in a rapid urbanization process. Situating itself in China's urbanization and real estate boom, this dissertation looks into the contemporary housing distribution in urban China and reflects on the relationship between human-centered urbanization and built environment urbanization. It seeks to answer three questions. How might China's land finance system affect the second homeownership and housing vacancy? Can China's housing market be explained by demographics? How do people in China finance their homes? The real estate boom in China is distinctive with pervasive vacancies and deep involvement of the public sector in the housing market. Guided by an inquiry about the relationship between the monopolistic supply of urban land and home investment behaviors, the first substantive research in my dissertation examines how municipal land finance may affect households' incentives to buy and hold extra residential property. The extent of land revenue positively associates with the odds that a household owns an unleased second housing unit in the same city/county. While land finance may promote homeowners' speculative investment demand for second homes by holding up the expectation of housing prices and urban expansion and construction, it may make it more difficult for people to purchase their first homes. Findings suggest that continuous reliance on land finance will intensify housing stratification and catalyze the imbalance between human-centered urbanization and built environment urbanization. At the individual level, empirical results show a remarkable rise of entrepreneurs in second home investment, although the privileges of certain work units remain. Among work units in the public sector, those directly engage in profit-seeking activities in the market demonstrate the highest likelihood of second home ownership.The second substantive research in the dissertation examines the relationship between aging and housing inventory in China. The results show that the unsold housing stock increases with the old age dependency ratio, which echoes the findings based in advanced economies and is not completely consistent with those based in China. Housing demand first rises with the old age dependency ratio and then decreases as aging goes on. No evidence implies that older Chinese downsize their housing consumption. Developers take population aging into account when making decisions about residential construction starts. But they show some inertia in response to the demographic change. It suggests that fundamentals such as age structure are still relevant to housing inventory, housing demand, and housing supply during China's real estate boom. Aging is likely to impose downward pressure on the quantity traded of housing, although not necessarily on the housing prices, especially in the long run.The third substantive research in this dissertation examines micro-level home financing in China. The overall pattern of Chinese households' home finance is delineated with 2011, 2013 data from a national survey. Compared to local homeowners, migrants are more likely to seek external financial support except from the Housing Provident Fund, and they show higher repayment pressure. Moreover, homeowners in cities of higher tiers are less likely to adopt informal borrowing than homeowners in cities of lower tiers. Finally, homeowners who have at least one parent with nonagricultural Hukou are more likely to obtain gift money from parents for their home mortgage down payment. The findings not only suggest that economy is an instituted process, but also they demonstrate both the compensatory and mutually reinforcing interrelations between the three resource circulation modes - redistribution, reciprocity, and market exchange. |
| 일반주제명 | Sociology. |
| 언어 | 영어 |
| 바로가기 | 
: 이 자료의 원문은 한국교육학술정보원에서 제공합니다. |
