참여정부 재건축규제의 주택시장 영향분석

Housing Market Analysis of the Reconstruction Regulations of the Participatory Government

This research assesses the policies of the ‘Participatory Government' on reconstruction regulations and examine what are the desirable policies for the future reconstruction regulations. Empirical work had been done in order to verify the effect of the regulations on the housing prices, on the relationship between the reconstruction-apartment prices and the general-apartment prices and to examine what are the appropriate reconstruction regulations for the stable housing market and the advanced housing environment. The result of the analysis is as follows: First, it suggests that tightening up the reconstruction regulation has a short-run effect on the housing price stability and there is a possibility of continuous housing price increase caused by housing supply contraction. Second, the research cannot find the evidence that there is a relationship between the reconstruction-apartment prices and the general-apartment prices even though these two have similar time series movements. Third, it concludes that the necessary conditions and standards of the regulation are needed but the regulations such as direct control of consumers' needs should be deregulated.