The first step on the housing ladder: A natural experiment in Hong Kong

被引：11

作者：

Ho, Lok Sang ^{[1
,2
]}

Wong, Gary Wai-chung ^{[2
]}

机构：

[1] Lingnan Univ, Dept Econ, Hong Kong, Hong Kong, Peoples R China

[2] Lingnan Univ, Ctr Publ Policy Studies, Hong Kong, Hong Kong, Peoples R China

来源：

JOURNAL OF HOUSING ECONOMICS | 2009年 / 18卷 / 01期

关键词：

Ladder effect; Housing ladder; Logit model; Natural experiment; Public housing privatization; MARKET;

D O I：

10.1016/j.jhe.2009.02.003

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The article presents and illuminates evidence, based on recent Hong Kong experience, indicating the existence of a "housing ladder effect" when housing prices increase or decrease. An increase of housing equity at the bottom of the ladder tends to translate into a trading up activity that will both increase housing market turnover and buoy up the entire housing market. Based on a natural experiment through the introduction of a public housing privatization scheme, this article demonstrates the importance of the first step on the housing ladder using a logit model. (C) 2009 Elsevier Inc. All rights reserved.

引用

页码：59 / 67

页数：9

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