In this article, we took the 24 region as the research object, selected the annual data from 2000 to 2014, and set up a panel data model, to analyze how the price fluctuations influence the major urban resident consumption from the wealth effect and crowding out effect. Research shows that the rise of house price will lead to a rise trend in consumer demand, Put forward a certain theoretical basis for our government's real estate control policies. The innovation of this article is showing the impact of changes in housing prices on the consumptions of residents from the perspectives of income effect and wealth effect, and the model is analyzed by using the panel data.
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