LunchUP: Lan Deng, "Market Development, State Interventions, and the Dynamics of Housing Investment in China"
Presenter | Prof Lan Deng, Faculty - Department of Urban and Regional Planning, University of Michigan
This study, recently published in Journal of Urban Affairs, examines the temporal and spatial variations in the dynamics of China's new housing investment and how they were shaped by the country’s market enabling efforts and persistent state intervention. Using panel data collected for 35 major Chinese cities from 1999 to 2013, the study examines how new housing investment has responded to housing price changes as well as changes in the cost of development inputs. It finds that housing investment in china had become market-driven from 1999 to 2008 after the major housing reform in 1998, but back to be state-driven after 2008 when the Chinese state took unprecedented actions to intervene in the economy and the housing industry in particular. The study also finds that the dynamics of housing investment varies by regions. These findings have important implications for understanding China’s housing affordability crisis and affordable housing policies.
These sessions are a response to requests from faculty and students to learn more about what’s going on in the field in an informal environment. We hope this can inspire emergent thoughts and connections that will inform our scholarship.
Lunch is included, please bring a drink.