주택시장에서의 세대 갈등과 주택정책

Intergenerational Conflict in Housing and Housing Policy

In this paper, we checked the awareness of the residential house and living environment by age and analyzed the consumption patterns by income and housing tenure status. The summary of empirical results are as following. First, the depreciation of residential houses have greater impacts on the reducing of living expanses than that of other assets. Second, for the young, the housing cost per unit area and the ordinary income for the elderly are significant roles when determining their living area. Finally, the young usually under more asset constraint are sensitive to the level of LTV and the DTI regulation policy is significantly influenced for the elderly under income constraint. These results suggest that the housing policy should be enforced with significant considerations of the house owner’s age characteristics. Moreover, in order to make better living condition for the young, it is necessary to improve the non-institutional private housing market. It is also needed to find the way of efficient settlements for the ‘New Stay’ project. Meanwhile, the reverse mortgage program should be exquisitely designed for the elderly. In addition, it is good way that the LTV and DTI levels apply more flexibly with considering house owner’s age.