The Long Term Linked Effect Analysis of Economic Growth, Residents Consumption and Real Estate Industry-Based on Var Model and Impulse Response Function

Real estate has double features of consumer durables goods and investment goods. The development of real estate industry is not only affected by national economic development but also by residents' consumption. This interactive supply and demand relationship affects the pricing and sale strategy in real estate industry. At present, most domestic scholars limit their study on this three-dimension mutual influence relationship by looking into just two dimensions. By realizing the problem, this paper utilizes VAR econometric model and the impulse response function constructing a system based on several variables and demonstrate the variance decomposition method to determine the mutual influence. We expect to show a comprehensive view of the actual relationship of the real estate industry, the national economy and consumers.