The Analysis Framework of Housing Demand: Comparison among Three Views

摘要

According to the different descriptions of housing, this article reviews the analysis framework used in housing demand research. We find that, based on the neoclassical consumer behavior theory, the scholars construct utility functions and budget restrictions, and then get demand functions through maximizing course. Following the theoretical analysis are econometric modeling and parameter estimating. This framework has been stable and almost unchanged for more than half a century. While the research progresses have been achieved principally by the improvements of data quality and analysis techniques, such as modeling and variable specification.