주택금융연구(Housing Finance Research)

About Housing Finance Research

주택금융연구는 한국주택금융공사의 공식학술지로서 주택금융시장, 주택금융정책, 주택금융상품, 주택금융정보기술 등 주택금융과 관련된 학문분야에서 이론적, 실증적, 정책적인 가치를 지니는 전문적이고 창의적인 연구논문들을 게재함으로써, 연구발표의 장과 학문토론의 기회를 제공하고 아울러 주택금융지식의 축적과 교육에도 기여함을 목적으로 합니다.
Article

Jun 30, 2022

An Analysis of Home Ownership by Age Group: Focusing on the Income Effect and Debt Effect
연령대별 주택 점유형태 분석: 소득효과와 부채효과를 중심으로

Seung-Gyu Sim
심승규

Hous. Finance Res. 2022;6(1):5-28.
https://doi.org/10.52344/hfr.2022.6.1.5

Based on the Korean Housing Survey 2020, the paper analyzes the distinct characteristics of households with or without homeownership in terms of their income and debt. In particular, it extracts and exploits debt residuals from household debt after controlling permanent income and other households characteristics. The paper finds that household debt (debt residual) is positively (negatively) associated with homeownership. More precisely, while both household debts and debt residuals of young households seem to increase the probability of homeow...
Article

Jun 30, 2022

A Study on the Period of Actual Residence in the First Home of a Lifetime
생애 첫 주택 거주 기간에 관한 연구

Seung-Gyu Sim, Soo Hyun Oh
심승규, 오수현

Hous. Finance Res. 2022;6(1):29-53.
https://doi.org/10.52344/hfr.2022.6.1.29

Using Housing Situation Survey 2019/2020, we uncover the following facts regarding the duration of actual residence in the first home of a lifetime. First, the higher the age of buying the first home and the larger the area of the first home, the longer the (expected) residence period to live in the first home. Second, the higher the education level of the head of household and the greater the additional unexpected income, the shorter the length of stay in the first home. Third, the increase in household debt adversely affects the period of res...
Article

Jun 30, 2022

The Effect of Regulating Purchase Right Resale on Housing Markets: A Theoretical Approach
분양권 전매제한의 효과에 관한 이론적 모형: 주택 거래 유동성에 대한 논의를 중심으로

Jengei Hong
홍정의

Hous. Finance Res. 2022;6(1):55-77.
https://doi.org/10.52344/hfr.2022.6.1.55

The purpose of this paper is to investigate the economic effect of the restriction on purchase right resale in housing markets. We design a housing transaction model based on the search matching framework to discuss the relationship between the purchase right resale and the market for existing housings. We point out that the restriction on purchase right resale could repress the flow of market supply in housing markets, which leads to an unintended housing price appreciation. Moreover, because the regulation is usually considered in the period ...
Article

Jun 30, 2022

An Analysis of Housing Demand Characteristics in the Metropolitan Area and Non-Metropolitan Areas in South Korea using Heckman's Two-Stage Model
헤크만 2단계 모형을 이용한 수도권과 비수도권의 주택수요 특성분석

Min-ji Lee, Su-yeon Jung
이민지, 정수연

Hous. Finance Res. 2022;6(1):79-101.
https://doi.org/10.52344/hfr.2022.6.1.79

This study aims to find the features of housing demand in metropolitan areas and non-metropolitan areas in South Korea. We will examine 51,881 households using the Korea Housing Survey 2019 and analyze with Heckman's two-stage model to reduce sample selection bias. The result suggests that the income elasticity and the price elasticity in metropolitan areas are higher than those in non-metropolitan areas. From the result of quantile regression analysis, households living in smaller houses have more demands for housing than those living in large...

CURRENT ISSUE
MOST READ ARTICLE

CURRENT ISSUE: Jun 2022, Vol. 6 , No. 1

Article An Analysis of Home Ownership by Age Group: Focusing on the Income Effect and Debt Effect 연령대별 주택 점유형태 분석: 소득효과와 부채효과를 중심으로 Seung-Gyu Sim 심승규 Hous. Finance Res. 2022;6(1):5-28. https://doi.org/10.52344/hfr.2022.6.1.5 HTML PDF PubReader	Article A Study on the Period of Actual Residence in the First Home of a Lifetime 생애 첫 주택 거주 기간에 관한 연구 Seung-Gyu Sim, Soo Hyun Oh 심승규, 오수현 Hous. Finance Res. 2022;6(1):29-53. https://doi.org/10.52344/hfr.2022.6.1.29 HTML PDF PubReader
Article The Effect of Regulating Purchase Right Resale on Housing Markets: A Theoretical Approach 분양권 전매제한의 효과에 관한 이론적 모형: 주택 거래 유동성에 대한 논의를 중심으로 Jengei Hong 홍정의 Hous. Finance Res. 2022;6(1):55-77. https://doi.org/10.52344/hfr.2022.6.1.55 HTML PDF PubReader	Article An Analysis of Housing Demand Characteristics in the Metropolitan Area and Non-Metropolitan Areas in South Korea using Heckman's Two-Stage Model 헤크만 2단계 모형을 이용한 수도권과 비수도권의 주택수요 특성분석 Min-ji Lee, Su-yeon Jung 이민지, 정수연 Hous. Finance Res. 2022;6(1):79-101. https://doi.org/10.52344/hfr.2022.6.1.79 HTML PDF PubReader

MOST READ ARTICLE

Article Analysis of the Characteristics of the Vulnerable Class of Housing: Focusing on the Residents of the Gosiwon and Small Room 주거취약계층의 특성 분석: 고시원·쪽방 거주자를 중심으로 Hee-Jeong Hong 홍희정 Hous. Finance Res. 2021;5(2):105-133. https://doi.org/10.52344/hfr.2021.5.2.105 HTML PDF PubReader Last 3 months views: 238	Article The Effect of Regulating Purchase Right Resale on Housing Markets: A Theoretical Approach 분양권 전매제한의 효과에 관한 이론적 모형: 주택 거래 유동성에 대한 논의를 중심으로 Jengei Hong 홍정의 Hous. Finance Res. 2022;6(1):55-77. https://doi.org/10.52344/hfr.2022.6.1.55 HTML PDF PubReader Last 3 months views: 204
Article A Study on the Apartment Sale Price Decision Model Using Vector Error Correction Model (VECM): Focusing on the Housing Market in Changwon City 벡터오차수정모형(VECM: Vector Error Correction Model)을 이용한 아파트 매매가격 결정모형에 관한 연구: 창원시 주택시장을 중심으로 Joo-han Sung 성주한 Hous. Finance Res. 2021;5(1):27-49. https://doi.org/10.52344/hfr.2021.5.1.27 HTML PDF PubReader Last 3 months views: 190	Article An Analysis of Home Ownership by Age Group: Focusing on the Income Effect and Debt Effect 연령대별 주택 점유형태 분석: 소득효과와 부채효과를 중심으로 Seung-Gyu Sim 심승규 Hous. Finance Res. 2022;6(1):5-28. https://doi.org/10.52344/hfr.2022.6.1.5 HTML PDF PubReader Last 3 months views: 184
Article A Study on Public Housing Policy for Implementing Social Sustainability: Focused on Affordable Housing in Hawaii, USA 사회적 지속가능성 실현을 위한 임대주택 정책에 관한 연구: 미국 하와이주 저렴주택 사례를 중심으로 Junghwa Kim, Hyun Seok Lee 김정화, 이현석 Hous. Finance Res. 2021;5(2):21-60. https://doi.org/10.52344/hfr.2021.5.2.21 HTML PDF PubReader Last 3 months views: 184	Article Analysis of Apartment Price Characteristics in Regional Submarkets: Focused on the Suyoung-gu in Busan 지역 하위시장의 아파트 가격 특성 분석: 부산시 수영구 사례를 중심으로 Hyun-Ju Kang, Yo-Myung Kang, Jeong-Yeal Suh 강현주, 강요명, 서정렬 Hous. Finance Res. 2021;5(2):61-86. https://doi.org/10.52344/hfr.2021.5.2.61 HTML PDF PubReader Last 3 months views: 176
Article The Impact of Legal Requirements on Global REITs Operational Performance: A Data Envelopment Analysis Approach 글로벌 상장 리츠의 운용 효율성 추정과 제도효과 연구 Kwang Uk Kim 김광욱 Hous. Finance Res. 2021;5(1):5-26. https://doi.org/10.52344/hfr.2021.5.1.5 HTML PDF PubReader Last 3 months views: 176	Article A Study on the Characteristics of Reverse Mortgage Member by Household Type Using Logit Model 로짓 모형을 활용한 가구 유형별 주택연금 가입자 특성 분석 Hee-Jeong Hong 홍희정 Hous. Finance Res. 2021;5(1):93-111. https://doi.org/10.52344/hfr.2021.5.1.93 HTML PDF PubReader Last 3 months views: 169
Article A Simulation of the Dividend Yield of Hub REITs for Urban Regeneration 도시재생 모자리츠의 배당수익률에 대한 모의실험 Hojin Lee 이호진 Hous. Finance Res. 2021;5(1):73-92. https://doi.org/10.52344/hfr.2021.5.1.73 HTML PDF PubReader Last 3 months views: 160	Article A Study on Determinants of Conversion to Trust-type Reverse Mortgage 신탁방식 주택연금 전환의향 결정요인에 관한 연구 Kyung-jin Choi 최경진 Hous. Finance Res. 2021;5(2):87-104. https://doi.org/10.52344/hfr.2021.5.2.87 HTML PDF PubReader Last 3 months views: 155