임차인의 자산과 소득이 전·월세 선택에 미치는 영향 분석

Abstract

The major changes in the housing market since the financial crisis are the significantly increased household mortgage loan from bank and the continuously strengthened regulatory policies such as LTV and DTI, starting with 9.4 Housing Market Stabilization Policy (2002) of the Government, which recognized the increased household mortgage loan as a major cause of rising real estate prices. These changes in the financial conditions has also brought a change in housing tenure. Chonsei, which took more share before the financial crisis, gave way to Monthly Rent, which has been steadily growing since the crisis. In this market condition, Choi and Ji (2007) proposed a model which reflects other loaning conditions besides Chonsei and a Monthly Rent indiscriminately. Through this study, using KLIPS and during the three periods, 1999, 2003, and 2008, I analyzed the characteristics of the preference for Chonsei of Monthly Rent with a tenant's asset accumulation. The aims of this study are analyzing the characteristics of the preference for Chonsei and Monthly Rent by periods providing the decision criteria for suppliers and consumers by understanding the structure of the decision on Chonsei or Monthly Rent, and proving the theoretical validity of Choi and Ji (2007). The major changes in the housing market since the financial crisis are the significantly increased household mortgage loan from bank and the continuously strengthened regulatory policies such as LTV and DTI, starting with 9.4 Housing Market Stabilization Policy (2002) of the Government, which recognized the increased household mortgage loan as a major cause of rising real estate prices. These changes in the financial conditions has also brought a change in housing tenure. Chonsei, which took more share before the financial crisis, gave way to Monthly Rent, which has been steadily growing since the crisis. In this market condition, Choi and Ji (2007) proposed a model which reflects other loaning conditions besides Chonsei and a Monthly Rent indiscriminately. Through this study, using KLIPS and during the three periods, 1999, 2003, and 2008, I analyzed the characteristics of the preference for Chonsei of Monthly Rent with a tenant's asset accumulation. The aims of this study are analyzing the characteristics of the preference for Chonsei and Monthly Rent by periods providing the decision criteria for suppliers and consumers by understanding the structure of the decision on Chonsei or Monthly Rent, and proving the theoretical validity of Choi and Ji (2007).