Analysis the Effects of Macroeconomic Factors on the Housing Accessibility Index in Urban Areas of Iran: Emphasizing the Role of Government

From the microeconomic perspective, housing is a commodity with consumption and capital use and is a special commodity with properties such as heterogeneity, non-substitution and immobility and as consumer goods has the largest share in the household's basket. On the other hand, housing as a commodity, can absorb a large part of the capital and liquidity of the society and lead to an increase in demand for speculation in the housing market. Formation of demand for housing capital with incentive for speculation, the interactions of this market with alternative markets and limited land resources has led to higher land prices and housing and a decline in household accessibility index. Therefore, imposing a tax on demand for housing can reduce the demand for housing and, consequently, the decline in housing prices. Ultimately, this will increase the financial strength of the household to buy housing with incentives to consume. In this regard, the purpose of this study is to investigate the effects of macroeconomic factors on the housing accessibility index in urban areas, using the dynamic panel data model over a period (2006-2016). The results indicate that the facility to purchase housing has led to a reduction in household accessibility index and increasing household access to house. Also, the tax policy applied in the housing sector has increased household accessibility index through controlling speculative demand for housing. In addition, land leverage, the price of housing replacement assets, inflation rate, employment rate, and marriage rate have been other factors affecting on household accessibility index.