Willingness of returning migrant workers to purchase houses: A case study of 45 villages in Henan Province, China

The willingness of returning migrant workers to purchase houses has an important impact on local urbanization.At present,there are few researches on the willingness of returning migrant workers to purchase houses.The existing researches mostly focus on the perspective of sociology and economics,and few studies are conducted from the perspective of geography.Based on the survey data of 45 villages in Henan Province of China in 2019,this study used binary logistic method to study the influencing factors of the willingness of returning migrant workers to purchase houses.The willingness of returning migrant workers to purchase houses is affected by many factors,such as personal,family,village,and returning factors.Among them,age and returning period are negatively correlated with the willingness of returning migrant workers to purchase houses.Factors such as years of education,years of working,and per capita income of village are positively correlated with the willingness of returning migrant workers to purchase houses.Returning migrant workers in plains and hilly areas are more willing to purchase houses than those in mountainous areas.The formation of the willingness to purchase houses is mainly related to economic foundation,age,marital status,and other factors.Returning migrant workers are becoming more willing to purchase houses,and the expected locations are mainly concentrated in the county seats.In the context of China’s high density of rural population and rapid urbanization,more returning migrant workers are expected to purchase houses in cities and towns for the sake of employment,marriage,children’s education,and access to public services.As a result,there is an extensive market of potential purchasers,which affects the development of the local urban real estate industry and is of great significance for returning migrant workers to truly integrate into the cities.However,some returning migrant workers still choose to purchase houses in villages,mainly affected by traditional concepts,living habits,and the better development of villages.Therefore,it is of great practical significance to explore the willingness of returning migrant workers to purchase houses,so as to master the flow laws and future behavior of returning migrant workers to purchase houses.

Does Rising House Price Push Chinese Households to“Leverage Up”More?-A Study from the Perspective of Heterogeneity of House-Buying Motivation

The rapid rise of leverage in Chinese household sector in recent years has attracted considerable attention,and high housing prices might be the main reason for the phenomenon.Do different house-buying motivations of households give an impetus to it?Researching this problem is of great importance to understand mechanisms for the formation of household leverage and taking targeted housing policies.Theoretical analysis in this paper fi nds that if house-buying motivation that was speculative was quite obvious,rising housing prices would result in the leverage of non-fi rst-house(NFH)households outpacing that of first-house(FH)households.On this basis,we conducted empirical analysis with a state-owned bank’s all housing mortgage loan data on 70 large and medium-sized cities for 2016 and the IV(instrumental variables)and DID(differences-in-differences)methods,and compared the two types of households from the inter-city and intra-city dimensions.The result showed that rising housing prices indeed drive up the debt balance and leverage of NFH households significantly more than those of FH households.Furthermore,our research found that a rise in housing prices has prompted NFH households to be more inclined to make the most use of mortgage policies with no substantial housing difference.To curb excessive leverage increase in the household sector,therefore,apart from regulating high expectations of housing prices,there should be stepped-up credit constraints on NFH households,thus restricting their behavior of excessive speculation.

Who Will Benefit From the Government’s Housing Purchasing Plan?

In response to the current decline in housing sales, Zhengzhou, capital of central China’s Henan Province, issued 17 measures to boost the local property market in late October. The local government announced that it would purchase unsold apartments and then give them to low-income families who are eligible for public housing.