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A New Affordable Housing Model in China

A New Affordable Housing Model in China
Author: Claudine Cecile Stuchell
Publisher:
Total Pages: 111
Release: 2008
Genre:
ISBN:

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This thesis examines the motivations behind Wanhuilou, the first affordable housing development to be initiated, constructed, and subsidized by a private developer--China Vanke. This case presents a pioneering firm and a radical project, as China Vanke is the first private real estate developer to build affordable housing without a land subsidy from a government-sponsored program. An innovative design, high standards for quality, and a range of amenities further distinguish Wanhuilou from China's other low-income housing. Moreover, China Vanke initiated this project in the city of Guangzhou, one of China's most expensive land and housing markets. Given Wanhuilou's extremely anomalous nature, this thesis aims to understand why a private developer would embark on such a project. This research is important because it examines a potential solution to a critical problem, China's affordable housing shortage. By exploring different behavioral models as possible explanations for China Vanke's motivations, my analysis reveals the particular elements that helped China Vanke take on this project. This thesis analyses the research question through four different hypotheses, testing if and how the market, national policy, local political economy, and corporate social responsibility can explain China Vanke's decision to build Wanhuilou. While this examination suggests that corporate social responsibility builds the strongest case for China Vanke's motivations, it also shows the interrelationships of these behavioral models. In fact, strategies from other models could complement China Vanke's current approach-although the firm's innovation is not enough to make Wanhuilou a replicable business model, a structural reform of housing, with help from the financial market and government policy, could potentially make Wanhuilou a sustainable enterprise.


Housing Affordability and Housing Policy in Urban China

Housing Affordability and Housing Policy in Urban China
Author: Zan Yang
Publisher: Springer Science & Business Media
Total Pages: 141
Release: 2014-01-25
Genre: Political Science
ISBN: 3642540449

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This book provides a comprehensive analysis of housing affordability under the economic reforms and social transformations in urban China. It also offers an overall review of the current government measures on the housing market and affordable housing policies in China. By introducing a dynamic affordability approach and residual income approach, the book allows us to capture the size of the affordability gap more accurately, to better identify policy targets, and to assess the effectiveness of current public policy. The unique database on urban household surveys and regional information on affordable housing projects serve to strengthen the analysis. The book offers theoretical and empirical insights for in-depth affordability studies and helps readers to understand the social impacts of market reforms and the role of government on the Chinese housing market.


China's Housing Reform and Outcomes

China's Housing Reform and Outcomes
Author: Joyce Yanyun Man
Publisher: Lincoln Inst of Land Policy
Total Pages: 260
Release: 2011
Genre: Political Science
ISBN: 9781558442115

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This in-depth volume explains China's residential construction boom and reviews how some established trends are likely to challenge its housing market in coming years. It draws on household surveys and public data in China and provides important lessons about housing policy for China and other countries.


Stabilizing China’s Housing Market

Stabilizing China’s Housing Market
Author: Richard Koss
Publisher: International Monetary Fund
Total Pages: 33
Release: 2018-04-13
Genre: Business & Economics
ISBN: 1484348559

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The sharp rise of house prices in China’s Tier-1 cities has fostered a great deal of commentary about the possibility of bubbles forming there. However, China’s unique housing market characteristics make it difficult to assess the macroeconomic severity of bursting bubbles, even if they exist. These include the setting of land supply and prices by the government, among many others. The presence of overbuilt “ghost cities” greatly complicates the ability of traditional macroeconomic policies to address these concerns. This paper looks at proposals to shore up the mortgage underwriting and legal infrastructure to help China withstand the impact of falling prices, should this occur.


Affordable Housing in China

Affordable Housing in China
Author: Chinese University of Hong Kong. Dept. of Architecture
Publisher:
Total Pages: 176
Release: 1997
Genre: Architecture, Domestic
ISBN:

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International Housing Market Experience and Implications for China

International Housing Market Experience and Implications for China
Author: Rebecca L. H. Chiu
Publisher: Taylor & Francis
Total Pages: 427
Release: 2019-03-18
Genre: Political Science
ISBN: 0429796161

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Recent rapid housing market expansion in China is presenting new challenges for policy makers, planners, business people, and citizens. Now that housing in middle-income China is driven by consumer choices and is no longer dominated by state policy decisions, housing policy issues in Chinese cities are becoming increasingly similar to those encountered in other global housing markets. With soaring prices and imbalances in housing supply favoring high income groups and housing demand driven by rising inequality in household incomes, many middle and lower-income households face worsening choices in terms of the quality and location of their housing as well as greater financial difficulties, which together can have negative implications for standards of public health. This book examines the impact of these changes on the general population, as well as on aspiring homeowners and developers. The contributors look at the effect on the widening of wealth gaps, slower economic growth, and threats to political and social stability. Though focusing on China, the editors also present discussions of specific policy design challenges encountered in Australia, Japan, Korea, the Netherlands, the Nordic countries, Singapore, Taiwan, the UK, and the US. This book would be of interest to housing policy makers, as well as academics who are studying the social and political effects of the Chinese housing market.


The One Hour China Book

The One Hour China Book
Author: Jeffrrey Alan Towson
Publisher:
Total Pages: 123
Release: 2014-01-14
Genre: China
ISBN: 9780991445028

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"One hour with this book will make you an expert on business in China." - Dick Gephardt, Majority-Minority Leader, U.S. House of Representatives, 1989-2002 "Without question, the best 60 minutes you will spend on China." - Jonathan Anderson, Emerging Markets Advisors This is the China book for everyone - whether an expert or novice. It can be read in an hour and gives you most of what you need to know about China business today - and its increasing impact on the rest of the world. This "speed-read" book is the distilled knowledge of two Peking University business professors with over 30 years of experience on the ground in China and the emerging markets. According to authors Jeffrey Towson and Jonathan Woetzel, "if we had the undivided attention of someone from Ohio, Brighton or Lima for just one hour, this little book is what we would say." Author Jonathan Woetzel is a senior partner of McKinsey & Company. He opened McKinsey's Shanghai location in 1995 and has been resident since then. He currently the global leader of its Cities Special Initiative and the Asia-based Director of the McKinsey Global Institute. He has led many of the Firm's most significant projects in China including the first major international listing of a Chinese company and the development of the economic plans for the cities of Shanghai, Wuhan, Shenzhen, Xian and Harbin among others. He co-chairs the Urban China Initiative along with Tsinghua University and Columbia University to catalyze the next stage of China's urbanization. Author Jeffrey Towson is a private equity investor, professor and best-selling author. His area of expertise is developing economy investing and cross-border strategies - primarily US-China deals in healthcare and consumer products. He was previously Head of Direct Investments for Middle East North Africa and Asia Pacific for Prince Alwaleed, nicknamed by Time magazine the "Arabian Warren Buffett" and arguably the world's first private global investor.


NBER Macroeconomics Annual 2015

NBER Macroeconomics Annual 2015
Author: Martin Eichenbaum
Publisher: University of Chicago Press
Total Pages: 517
Release: 2016-06-22
Genre: Business & Economics
ISBN: 022639574X

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This year, the NBER Macroeconomics Annual celebrates its thirtieth volume. The first two papers examine China’s macroeconomic development. “Trends and Cycles in China's Macroeconomy” by Chun Chang, Kaiji Chen, Daniel F. Waggoner, and Tao Zha outlines the key characteristics of growth and business cycles in China. “Demystifying the Chinese Housing Boom” by Hanming Fang, Quanlin Gu, Wei Xiong, and Li-An Zhou constructs a new house price index, showing that Chinese house prices have grown by ten percent per year over the past decade. The third paper, “External and Public Debt Crises” by Cristina Arellano, Andrew Atkeson, and Mark Wright, asks why there appear to be large differences across countries and subnational jurisdictions in the effect of rising public debts on economic outcomes. The fourth, “Networks and the Macroeconomy: An Empirical Exploration” by Daron Acemoglu, Ufuk Akcigit, and William Kerr, explains how the network structure of the US economy propagates the effect of gross output productivity shocks across upstream and downstream sectors. The fifth and sixth papers investigate the usefulness of surveys of household’s beliefs for understanding economic phenomena. “Expectations and Investment,” by Nicola Gennaioli, Yueran Ma, and Andrei Shleifer, demonstrates that a chief financial officer's expectations of a firm's future earnings growth is related to both the planned and actual future investment of that firm. “Declining Desire to Work and Downward Trends in Unemployment and Participation” by Regis Barnichon and Andrew Figura shows that an increasing number of prime-age Americans who are not in the labor force report no desire to work and that this decline accelerated during the second half of the 1990s.


Public-Private Partnership in Affordable Housing, Comparing Current Practices in Jinhua, China and New York City

Public-Private Partnership in Affordable Housing, Comparing Current Practices in Jinhua, China and New York City
Author: Wenqi (Hazel). Ni
Publisher:
Total Pages: 0
Release: 2023
Genre:
ISBN:

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This thesis aims to investigate the roles of public-private partnerships (PPP) in the affordable housing industry. This thesis examines the "Agent Construction System" (ACS) business model in affordable housing development in China, the Low-Income Housing Tax Credit (LIHTC) system for affordable housing in United States, and more specifically, the New York City Housing Authority's Permanent Affordability Commitment Together (NYCHA PACT) program to bring private partners into public housing in New York City. Conscious of the difference in the local social, political and economic environment, and hence the vast varieties in the practices of PPP in housing, the literature review will provide an overview of the concept of PPP in affordable housing, and its practice in different countries. Current literature includes discussion on the application of PPP in housing in cities including Kolkata, India, and Hong Kong, as well as broader discussions on such us in countries including Malaysia and Nigeria.


Fixer-Upper

Fixer-Upper
Author: Jenny Schuetz
Publisher: Brookings Institution Press
Total Pages: 119
Release: 2022-02-22
Genre: Political Science
ISBN: 081573929X

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Practical ideas to provide affordable housing to more Americans Much ink has been spilled in recent years talking about political divides and inequality in the United States. But these discussions too often miss one of the most important factors in the divisions among Americans: the fundamentally unequal nature of the nation’s housing systems. Financially well-off Americans can afford comfortable, stable homes in desirable communities. Millions of other Americans cannot. And this divide deepens other inequalities. Increasingly, important life outcomes—performance in school, employment, even life expectancy—are determined by where people live and the quality of homes they live in. Unequal housing systems didn’t just emerge from natural economic and social forces. Public policies enacted by federal, state, and local governments helped create and reinforce the bad housing outcomes endured by too many people. Taxes, zoning, institutional discrimination, and the location and quality of schools, roads, public transit, and other public services are among the policies that created inequalities in the nation’s housing patterns. Fixer-Upper is the first book assessing how the broad set of local, state, and national housing policies affect people and communities. It does more than describe how yesterday’s policies led to today’s problems. It proposes practical policy changes than can make stable, decent-quality housing more available and affordable for all Americans in all communities. Fixing systemic problems that arose over decades won’t be easy, in large part because millions of middle-class Americans benefit from the current system and feel threatened by potential changes. But Fixer-Upper suggests ideas for building political coalitions among diverse groups that share common interests in putting better housing within reach for more Americans, building a more equitable and healthy country.