Advances in Economics, Management and Political Sciences

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Proceedings of the 2nd International Conference on Business and Policy Studies

Series Vol. 10 , 13 September 2023


Open Access | Article

U.S.-China Real Estate Markets in Times of COVID-19

Yuheng Lan * 1
1 University of Washington(Seattle)

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 10, 96-101
Published 13 September 2023. © 13 September 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Yuheng Lan. U.S.-China Real Estate Markets in Times of COVID-19. AEMPS (2023) Vol. 10: 96-101. DOI: 10.54254/2754-1169/10/20230439.

Abstract

In 2020, the world experienced the COVID-19 pandemic. This has had an extremely serious impact on the global economy. All industries have been greatly affected by such a severe economic situation. This paper assumes that the real estate market, as a part of the economic market, was also greatly affected. The purpose of this paper is to examine the effects that the real estate markets in China and the United States have suffered under this pandemic and to analyze the specific reasons and motivations behind these effects. Using statistical data from 2017 to 2022, this paper compares housing prices and transaction volumes in six major cities in China and the United States. The results of the study show a result contrary to the hypothesis that the real estate markets in China and the United States recovered after a period of recession and were able to reach higher levels than before the epidemic. Based on this result, the paper analyzes the causes of the impact on the real estate markets in China and the United States. There is evidence that the main causes affecting the Chinese real estate market are real estate policies and cultural phenomena, while the factors behind the impact on the U.S. real estate market are economic policies and epidemic management strategies.

Keywords

COVID-19, real estate market, China, United States, policy

References

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 2nd International Conference on Business and Policy Studies
ISBN (Print)
978-1-915371-47-8
ISBN (Online)
978-1-915371-48-5
Published Date
13 September 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/10/20230439
Copyright
13 September 2023
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated