주택소유로 인한 행복 증진에 대한 실증분석

An Empirical Study on increase in Happiness Caused by Home-ownership : The Consumption sector and investment Sector Apartment Ownership-

1.CONTENTS (1) RESEARCH OBJECTIVES The objectives of this study are to build a regression model to distinguish consumption contribution from investment one associated with the happiness induced by home-ownership and then to apply empirical data for Seoul to the model so as to estimate the ratio of consumption contribution to investment one. (2) RESEARCH METHOD Two approaches are taken for this study. One is to take dummy estimates of happiness discrepancy between apartment-owned and non-apartment-rented. The other is to compare happiness to the consumption factors accruing from housing service of apartment-owned or non-apartment-rented. (3) RESEARCH FINDINGS The results reveal that the model proposes seems well suite do address the contributions of consumption factors and investment ones to the increase in happiness according to house tenure and house types. The housing-induced happiness ratios of consumption : investment are (0.67 : 0.33) and (0.52~0.48) 2.RESULTS Given the considerable advantages that can be gained from the housing tenure, it is important to understand why most households try to have their own house especially apartment although it sacrifices a great number of income and requires high user cost. This study shows that home-ownership provide people with investment happiness as well as consumption happiness, which the policy maker should consider.