Robustness Measurement of Volatility Risk of Chinese Real Estate Price
NIE Ying1,DONG Na2
(1.School of Economics and Management,Jilin Agricultural University,Changchun 130118,China; 2.School of Management,Changchun Architecture Institution,Changchun 130607,China)
Abstract:
The rapid rise of China real estate prices in recent years has exceeded the resident unbearable degree.Real estate prices once become the bubble,will cause serious negative impact on economy.This paper firstly analyzes the mechanism,cause,harm of real estate bubble.Then it uses Housing Price-income Ratio,Multiple Regression and Partial Equilibrium Analysis to measure the Real Estate Bubble of China.The research show the prices of China real estate show a rising trend from 2004 to 2013,it has cluster autocorrelation effect in areas.The extent of price bubble in the eastern coastal areas is more serious than Midwest areas.