Housing Segmentation and Household Consumption in China

2026

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AI-generated summary

1) This paper examines how China's structurally segmented urban housing system—divided between market homes, rental units, and legacy housing—shapes household consumption levels and income elasticities.
2)
- Reconstructs China's urban housing structure using census and micro-survey data, revealing that market-purchased housing accounts for only about 40 percent of occupied urban dwellings, with the rest split between renters and legacy homeowners.
- Evaluates household discretionary consumption across different residential regimes through micro-econometric regressions, controlling for income, wealth, demographics, and location.
- Analyzes the implications of housing liquidity, balance-sheet constraints, and affordability hurdles on household behavior during China's post-2021 housing adjustment.

3) Tags: China, housing market, household consumption, housing segmentation, household balance sheets

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