第七讲(上-新)-住房特征和消费规律.pptVIP

* * * 4.1 租房成本和买房成本的差异Differences between renting and owning? 租房成本高于买房成本的三个原因: The cost of renting is often higher for three reasons. 1) 存在承租人的外部性； There exists renter externality. 2) 较高的风险因而较高的贷款利率； Renting involves higher risk and loan interest rate. 3) 出租房的管理成本高于自住房； Renting brings higher managing cost than owning a dwelling 4.2 税收、金融优惠和成本Taxation, financial favor and cost 快速折旧（延税、降低租金、租客受益） Fast depreciation (putting off tax, decreasing rent, renters getting benefits) 抵押扣除（税前还贷）: (富裕家庭享受更多的减免、刺激买房消费，可能引致低效选择) Mortgage deduction (repaying the loan before taxation) means rich households enjoying more deduction, stimulating housing consuming , which may induces inefficient choice 4.3 抵押扣除和隐性租金收入Mortgage deduction and imputed rental income 买房自住：甲，隐性租金收入，抵押扣除 A owns a house and lives there : imputed rental income and mortgage deduction 买房出租：乙，实际租金收入，抵押扣除、 B owns a house and rent it : actual rent income and mortgage deduction 承租：丙 C is a renter. 4.4 税收政策对产权房的偏向与支持Taxation preference to dwellings with property rights. 出租房快速折旧，导致折旧结束后就“易手” Rented dwellings depreciate fast, resulting in changing renters rapidly. 产权房税前还贷，刺激购房 Repaying the loan before taxation stimulates housing purchasing. 税前还贷与隐形租金收入 Repaying the loan before taxation and imputed rental income 住房外部性和税收倾斜 Rental externalities and taxation declining 关于买方租房的结论 1）住房的高成本导致部分家庭选择租房； 2）快速折旧、抵押扣除等公共政策会影响家庭在租房和买房之间的选择； 3）优惠政策实际上是政府为家庭支付了部分住房账单，家庭做出了一种低效率的选择。详见图5－4 复习思考题Questions 1.一般来说，导致城市住房异质性的主要因素有哪些？依次列出你认为最重要的10个因素。 what are the general factors making urban dwellings different? List the top 10 of them. 2.什么是住房消费的过滤效应？过滤模型的两个假设前提是什么？ What are the filtering effects of housing consuming? What are the two assumptions? 3.一般情况下，买房和租房之间比较，成本有何差异？ What is the general difference in cost between owning and renting a house? 复习思考题Questions 4.相对于租房，政府为什么鼓励买房？从美国、中国的经验看，政府曾采取哪些措施鼓励买房？有何负面影响？ Why do governments prefer encouraging owning to rent