The Study of Optimal Housing Price and Consumption

• Main Authors: Hsin-Mei Lin, 林欣玫
• Other Authors: Chih-Hsing Hung
• Format: Others
• Language: zh-TW
• Published: 2015
• Online Access: http://ndltd.ncl.edu.tw/handle/28421359261860194896

碩士 === 國立高雄第一科技大學 === 金融系碩士班金融組 === 103 === The advancement of technology and the change of environment of the society have influenced the behavior of the consumer and investor. With the trend of late marriage, the home purchase age is also getting higher. The study aims to discuss the most optimal arrangement between consumption and house purchasing for the investor that purchasing the house, by applying asset pricing theory to analyze the subjective factors, such as consumption habits and acceptance of risk, proposing a scheme meeting the ends between the ultimate efficiency in wealth accumulation and consumption expectation. In addition, the study discuss the factors of house price, interest, and wealth respectively to understand the most influential factor to the investors. The model points put that in the market, as the house price goes high, the equity market will goes down with the consumption behavior become active. Investors considering the necessity of house purchasing tends to include the real estate in the profile but the allocation will affects the risk-weighted assets proportion other than real estate. The consumption substantially increases accordingly and crowds out the risk-weighted asset investment.