부동산시장의 버블(Bubble)존재 가능성에 관한 연구

The Analysis of Structuring Real Estate Market Price Settlement with Bubble : Focusing on Apartment Housing Market

1. CONTENTS (1) RESEARCH OBJECTIVES This study investigates whether there was a apartment housing price bubble in korea in 1987-2008. the purpose of studying housing price, and then to ascertain the bubble which is founded in apartment housing price. The empirical analysis has been done in monthly apartment housing price index during the period from 1987 to 2008. (2) RESEARCH METHOD With monthly data from the kookmin bank, this paper employs standard econometric methodologies: ie. F-test, T-test and Regression analysis (3) RESEARCH FINDINGS The real estate is the most important property in the world, but now days real estate market has been decreased since the end of Sub prime mortgage insolvent operation. the world economy get a shock the decreasing of real esrtate market has been a condition of bubble, the shock power is much more. 2.RESULTS This studies on the relation between the price of use value & investment value apartment housing in Korea. Apartment housing market via ANOVA & Regression Analysis. The results of research is as follows. First, the total & Gangbuk apartment housing market has the difference use value & investment value by T-test. Second, we did not completely convinced the possibility of bubble existence in korea apartment housing market. 3. KEY WORDS Bubble, Real estate Market, apartment housing, use value, investment value, excess volatility