On the Contribution to the National Economy of Housing Mortgage

Fan Dong ； Zijing Wu

《Service Science and Management Research》 4卷 (2015/12) Pp. 5-7

https://doi.org/10.14355/ssmr.2015.04.002

並列摘要

Mortgage has made great contribution to the national economy, but other scholars believe that the contribution isn't from the stimulation of mortgage to housing investment and housing consumption. According to the Wealth Effect, which means the value of capital growing may lead to the growth of consumption, housing mortgage increases the value of resident's fixed assets, which leads to the growth of national economy. Housing is the residents' personal assets, and the resident's housing appreciation will lead to its own family housing wealth effect. Based on the permanent income theory, increasing dweller family wealth will then lead to consumption growth, so that the housing mortgage will promote the overall development of the national economy. That's the reason of the contribution of the housing mortgage to the national economy.

並列關鍵字

Housing Mortgage ； Wealth Effect ； National Economy