Title: The Relations Among Bank Credit,Price and Demand and Supply on the Real Estate Market
Abstract: This paper empirically studies the relations between real estate market and bank credit in Shanghai since 2000.The results show that the influence of bank credit on real estate market mainly concentrates on the demand but the supply.The growth of bank credit significantly stimulates the increase of price and sales volume of the real estate but has not such influence on investment in real estate development.The credit increase on the real estate is mainly decided by bank liquidity rather than the market situation. However,the supply and demand can lead to the change of credit structure on the real estate market.In detail,when the price is rising,personal mortgage loans increase significantly,and the development loans do so when the price is declining.In the short term,the bank credit can smooth the fluctuation in the real estate market,but only a perfect housing supply system can keep the long-term stability of the market.
Publication Year: 2008
Publication Date: 2008-01-01
Language: en
Type: article
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