基于预算约束的商品房价格形成机制研究

我国商品房市场上存在一定程度的预算约束。本文通过类比的方法，参考经典预算约束方程，得出了商品房交易市场的预算约束方程，并在此基础上通过理论分析和实证分析得出了商品房价格形成机制。笔者认为，流动性、城市化、人均可支配收入、交易量、持有成本为商品房价格的主要影响因素。从预算约束角度出发对商品房价格的形成机制进行研究，对政府的住房需求治理具有一定的参考意义。

A Study on the Pricing Mechanism of Commercial Housing Based on Budget Constraint

There is a certain degree of budget constraint in the commercial housing market. Using an analogy method, and consulting the classical budget constraint equation, this paper draws a budget constraint equation of the commercial housing market. And on the basis of the equation, through theory analysis and empirical analysis, this paper works out the pricing mechanism of the commercial housing. The result shows that the major factors that influence the housing prices are liquidity, urbanization per capita disposable income, volumes and holding cost. It is of certain reference value for the government policy makers on housing to study the housing pricing mechanism from the prospective of budget constraint.