Research on housing affordability of urban residents based on HAQ model

SHI Jian-gang, YAN Jun

Systems Engineering - Theory & Practice ›› 2015, Vol. 35 ›› Issue (9) : 2221-2231.

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Systems Engineering - Theory & Practice ›› 2015, Vol. 35 ›› Issue (9) : 2221-2231. DOI: 10.12011/1000-6788(2015)9-2221

Research on housing affordability of urban residents based on HAQ model

  • SHI Jian-gang, YAN Jun
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Abstract

On the basis of housing affordability classic indicators analysis, this paper constructed a housing affordability quadrants (HAQ) model. HAQ model defines four quadrants including strong payment, weak payment, income-dependent payment and deposit-dependent payment, showing four different states of housing affordability. When down payment affordability (DPA) is not less than 1, household savings can afford down payments; when monthly payment affordability (MPA) is not less than 1, residual income can afford mortgage payments; otherwise, housing affordability problems rise. Finally, model calculation is done using 35 cities in China. It is found that housing affordability problems generally exist in different types and show significant regional differences in 35 cities in 2012. Comparing with house price to income ratio, HAQ model results are comparable and show richer connotation, which is meant to provide new ideas for the development of housing affordability theory, the appraisal of housing market running state and residential housing pressure in China.

Key words

housing affordability / HAQ model / down payment & monthly payment / 35 cities' appraisal

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SHI Jian-gang , YAN Jun. Research on housing affordability of urban residents based on HAQ model. Systems Engineering - Theory & Practice, 2015, 35(9): 2221-2231 https://doi.org/10.12011/1000-6788(2015)9-2221

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