주택시장 최소유동성 유지를 위한 거래량 산정에 관한 연구

A Study on the Estimation of Mnimum Volume to Maintain Liquidity in Housing Market

1. CONTENTS (1) RESEARCH OBJECTIVES The purpose of this study is to propose estimation methodology of critical trading volume that are generated by housing actual demanders through residential mobility. (2) RESEARCH METHOD The data was population movements of the Ministry of Statistics and Housing Survey from 2006 to 2012. The number of movements by age, self-share, average household size were selected for critical trading volume estimation and empirical methods were proposed and demonstrated. (3) RESEARCH FINDINGS This study was focused on the housing trading volume that was expressed through Residential mobility. The liquidity of the housing market was determined by comparing housing trade volume published by Ministry of Land with critical trading volume estimated by this study 2. RESULTS As a result. both national housing trading volume and critical trading volume have decreased. It is difficult to conclude that there is liquidity risk in the housing market at a national scale, because housing trading volume is greater than critical trading volume. Nevertheless, the liquidity risk in the housing market seems to have different aspects between national housing market and regional housing market.