RESEARCH ARTICLE
Did You Miss the Ride? Housing Boom and Household Wealth in China
Hongliang Sun,
Youmeng Wu,
Xianzhu Wang,
Rui Wang,
Hongliang Sun
School of Public and International Affairs, Shanghai Jiao Tong University, Shanghai, China
School of Business, Anhui University of Technology, Maanshan, China
Search for more papers by this authorYoumeng Wu
School of Business, Anhui University of Technology, Maanshan, China
Search for more papers by this authorCorresponding Author
Xianzhu Wang
School of Business, Anhui University of Technology, Maanshan, China
Correspondence: Rui Wang ([email protected])
Xianzhu Wang ([email protected])
Search for more papers by this authorCorresponding Author
Rui Wang
Xi'an Jiaotong-Liverpool University, Suzhou, China
Correspondence: Rui Wang ([email protected])
Xianzhu Wang ([email protected])
Search for more papers by this authorHongliang Sun,
Youmeng Wu,
Xianzhu Wang,
Rui Wang,
Hongliang Sun
School of Public and International Affairs, Shanghai Jiao Tong University, Shanghai, China
School of Business, Anhui University of Technology, Maanshan, China
Search for more papers by this authorYoumeng Wu
School of Business, Anhui University of Technology, Maanshan, China
Search for more papers by this authorCorresponding Author
Xianzhu Wang
School of Business, Anhui University of Technology, Maanshan, China
Correspondence: Rui Wang ([email protected])
Xianzhu Wang ([email protected])
Search for more papers by this authorCorresponding Author
Rui Wang
Xi'an Jiaotong-Liverpool University, Suzhou, China
Correspondence: Rui Wang ([email protected])
Xianzhu Wang ([email protected])
Search for more papers by this authorABSTRACT
In the two decades following housing privatization, housing quickly dominated Chinese urban household wealth growth and inequality. We test hypotheses derived from a housing investment production function in China's unique context against multiyear microdata. During 2011–2019, housing wealth of different birth cohorts followed disparate paths, with clear spatial, socioeconomic and social identity-based polarization. The biggest winners in China's housing boom were the well-educated in superstar cities. 5%–10% of the young homeowners born since the late 1970s, especially those born since mid-1980s, seem most vulnerable in a housing bust or when facing a negative income shock.
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