城市房地产泡沫实证研究——以南宁市为例的中期报告.docxVIP

城市房地产泡沫实证研究——以南宁市为例的中期报告 Abstract: With the rapid development of the Chinese economy, the real estate market has become one of the most important pillars of the economy. However, the burst of the housing bubble has had a huge impact on the economy. This paper takes Nan Ning as an example and conducts a study on the existence and characteristics of the current urban real estate bubble and the impact of the bubble on the economy. Keywords: urban real estate, bubble, Nan Ning, economy 1. Introduction In recent years, the real estate market in China has experienced a rapid rise, and the urban real estate market has become one of the most important driving forces of the Chinese economy. The fierce competition in the market has led to a surge in housing prices and a surge in investment in urban real estate. However, with the increase in housing prices, the housing bubble has gradually emerged, causing a negative impact on the economy. Nan Ning, the capital of Guangxi Province, is a typical second-tier city in China. Its rapid economic development has led to a surge in demand for housing. In this context, this paper conducts a study on the existence and characteristics of the current urban real estate bubble and the impact of the bubble on the economy. 2. Literature Review Many scholars have studied the urban real estate bubble from different angles. Zhang (2013) believed that housing prices are influenced by supply and demand, economic development, and government policies. Liu (2016) conducted a study on Chinas urban real estate bubble and proposed that the bubble is mainly caused by three factors: limited land supply, low interest rates, and loose monetary policy. Chen et al. (2017) conducted an empirical study of Chinas real estate market and discovered that there is a significant positive relationship between GDP growth and real estate prices. 3. Data and Methodology This paper uses the real estate price index and the trade volume of urban real estate in Nan Ning from