• Journal of the Korean association of regional geographers
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• v.15 no.1
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• pp.138-160
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• 2009

The urban housing market in Korea, especially in Seoul and the Capital region, has been revitalized with massive urban (re)developments and expanding real estate finance after the IMF crisis. This brought about a boom of housing price during the mid-2000s, which has been virtually stabilized by strong regulation policies of the previous government. But with impacts of the recent international financial crisis together with some inherent problems, the housing market of Korea faces with a worry of collapse in relation with the financial market volatility and the serious depression of real economy, and hence the current government attempts to implement strong deregulation policies on the housing market. In this paper it is argued that this kind of volatility of urban housing market seems to be caused by strategies of capital which involve continuous massive urban (re)development, residential segregation and appropriation of monopoly rent(or capital gain), and fictitious capitalization of real estates and integration of real estate market and financial market. In these reasons, the current tendency of urban housing price shows a slow downward, which seems to give the current neoliberal government a rationale for deregulation policies to prevent the downward tendency. But this paper suggests that such a slow downward of housing price shift would have positive effects on the housing market in particular and social and economic situations in general, and hence an alternative housing policy is required to realize such positive effects.

• Land and Housing Review
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• v.4 no.4
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• pp.361-370
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• 2013

The purpose of this paper is to appraise Bogeumzari Housing Program(BHP) which is providing public housing of different types for the target brackets on a matching system basis. Especially, on government's announcing BHP plan with the designation of several Bogeumzari districts in Seoul Metropolitan area, they raised a question about target groups' receiving the benefits of BHP plan and this paper focuses on the question. We tried to analyze two topics. First one is about the exorbitant windfall profits to the future potential residents derived from low price or rental cost of Bogeumzari Housing in comparison with neighborhood's market price. Second one is the low possibility of low-moderate income household's access to absolutely high price Bogeumzari Housing that is because the market price is so high in some area. BHP includes not only long-term public rental hosing(Permeant rental housing, National rental housing) for low income households but also other types of public rental housing(10-year rental housing, shared-ownership rental housing) for moderate income households. So, in this study we tried to find out the affordability of each bracket in three public housing types, which are public sales housing(condominium), 10-year rental housing and shared-ownership rental housing. Through analyzing the housing affordability by types, regions, size, we tried to seek the answer to the controversy and propose policy implications related to the future public housing programs.

• International Area Studies Review
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• v.13 no.2
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• pp.66-88
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• 2009

This paper studies optimal discretionary monetary policy in the presence of uncertainty in the housing sector. In particular, we allow two possible regimes regarding the evolution of housing price inflation and the effects of housing price inflation on the aggregate demand. Estimation results with the US data confirm the presence of two distinctive regimes, one 'normal' and the other more akin to the housing price 'bubble' state. The optimal policy is 'asymmetric' in that the optimal responses in the 'normal' regime require the central bank to lean against the wind to inflationary pressure from CPI and housing inflation, while the central bank is recommended to accommodate it in the other regime.

• KDI Journal of Economic Policy
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• v.10 no.3
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• pp.51-63
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• 1988

본(本) 연구(硏究)의 목적은 주식시장이론(株式市場理論)에서 개발된 시장(市場)의 중강효율가설(中强效率假設)(semi-strong from of the efficient market hypothesis)을 적용, 서울 강남지역 137개 유형의 아파트에 대한 1983년부터 1988년까지의 분기별(分期別) 매매가격자료(賣買價格資料)를 사용하여 주택매매시장(住宅買賣市場)의 효율성(效率性)을 실증분석하고자 함에 있다. 본(本) 연구(硏究)의 실증분석결과에 의하면 주택투자자(住宅投資者)들이 정부정책의 변화나 아파트 가격에 영향을 주는 공공정보(公共情報)들을 빠른 시일내에 자본화(資本化)(capitalize)하지 못함으로써 주택매매시장(住宅賣買市場)은 재정이윤(裁定利潤)(arbitrage profit)이 상당기간 존재하는 비효율성(非效率性)을 갖고 있는 것으로 나타났다. 이는 주택이라는 재화(財貨)의 특수성에도 원인이 있지만 더 중요한 원인으로는 만성적인 주택수급(住宅需給) 불균형(不均衡)과 공공정보(公共情報)에 대한 투자자들의 이질적(異質的) 기대(期待)(heterogeneous expectation)를 들 수 있다.

• Proceedings of the Korean Institute Of Construction Engineering and Management
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• 2007.11a
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• pp.535-538
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• 2007

Since 1980s, the government has established the overall country development master plan for balance development of country, it set basic aim of restraint overcrowding of the metropolitan area and devising a regional balance development for development policy. But, new urban development master plan which if propelled has revised development master plan for stabilization of housing cost through supply housing in the metropolitan area, not reviewed discussion suitability of development plan with policy propulsion, efficient pre-plan, negotiation with local self-administration community, convergence opinion of local resident, environmental impact evaluation. therefore, we should suggest considerations related to policy and development when it propelled solution of housing inefficience in the metropolitan area and new urban development policy for harmony of central function in capital.

• Proceedings of the KGS Conference
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• 2004.05a
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• pp.87-87
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• 2004

미국 교외화에 관한 전통적인 접근의 한 축인 natural evolution 이론에서는 교외화의 요인으로서 소득증가와 교외지역 단독주택(single-family detached housing)에 대한 수요 증가, 자동차의 대중화로 인한 주택수요자의 공간이동성 증가, 주택소유 장려와 고속도로 건설 등의 미국 연방정부의 각종 정책, 그리고 교외주택의 대량생산에 따른 주택소유 비용의 하락을 강조해왔다. (중략)

• Environmental and Resource Economics Review
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• v.14 no.4
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• pp.923-941
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• 2005

Odor problem of livestock operation is important issue in a local community. I quantified the property price impact of 199 livestock operations for 3,355 housing sales in the U.S (Colorado). Spatial hedonic model was adopted to deal with spatial autocorrelation in housing market. Small beef and dairy operations, which are the traditional agricultural sector, seem to create a positive rural lifestyle amenity effect. However, the impact of livestock operation on rural residential sales turns to negative if the operation is over a certain size and species. Large hog and sheep operation seems to bring fatal economic loss from the local community perspective if it close to residential area. Livestock odor is one of the negative externality, the results provide the potential social cost of the livestock sector in the region. Policy makers may incorporate this social cost in the regional planning to minimize the social and maximize the development effect. Therefore, local officials and private individuals should carefully consider the location and characteristics of new residential properties and livestock operations alike.

• The Journal of the Convergence on Culture Technology
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• v.7 no.1
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• pp.140-144
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• 2021

We humans try to pursue a better living environment along with the development of modern civilization. In particular, it is a reality that a lot of efforts are being made to improve food, clothing, and shelter. Among them, the concept of housing serves as a major function to improve the quality of life. However, the government's excessive tax rate regulation policy surrounding the sale of such houses is actually inducing annual or monthly rent expenses. Furthermore, it is a reality that even home sales are not being handled smoothly. In general, the cost of owning a house (apartment, etc.) can be divided into acquisition and possession. In addition, a lot of taxes are borne by long-term housing. Subsequently, due to the increase in the transfer tax rate due to the sale of houses, the disposal of property rights is not free. This serves as a limiting factor for market principles. If the tax rate for the transfer of multi-homed people is raised, it can cause a phenomenon that encourages yearly or monthly rent. This is a part where it seems necessary to reduce the transfer tax rate according to the multi-year retention period. If you hold it for 20 years after acquisition, you have paid a lot of taxes and returned your profits. For that reason, you should not impose a transfer tax for trading. The application of the tax-free principle for houses held for more than 20 years will respond to market principles in the future and will function effectively in annual or monthly rent policies.

• Land and Housing Review
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• v.14 no.2
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• pp.73-82
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• 2023

This study empirically analyzes the policy demand for population inflow in Hongcheon-gun, a region that has experienced population decline over the past decade. The results of this study based on the multinominal logit model provide the policy implications as follows. First, due to the differing factors influencing the demand for population inflow policies among the young and the elderly, local governments should clearly define the policy targets for population inflow. Second, in the context of policy demand for population inflow through corporate attraction, we identify statistically significant and positive effects of the length of residence for both young and old people, and the level of formal education for the elderly. These results emphasize the importance of formulating population inflow policies distinctively targeted for the young and the elderly generations, respectively, thereby increasing population inflow in the population reduction area.

• Land and Housing Review
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• v.5 no.4
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• pp.247-257
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• 2014

This study proposes a new housing need and demand assessment model centering on small-scale housing development projects and happy house development projects that reflected the recent changes in rental and small sized apartment centered public housing policies and development paradigms. The housing need and demand assessment model of public housing development projects consists of quantitative evaluation factors such as potential need indicator and demand pressure indicator and qualitative evaluation factors such as local condition indicator. The potential need indicators of small sized housing development projects are calculated by subtracting the stock of already-supplied constructed rental and purchased rental housings from the potential quantity of need drawn from the small regions such as -eup, -myeon, and -dong. In the potential need indicators of happy house development projects, the potential need is calculated from those who are expected to receive a happy house in the unit of -si, -gun, and -gu. In small-sized housing development projects, demand pressure indictors are the number and the proportion of those who opened a subscription deposit, the number of those who received basic livelihood security and the number of those who were patriots and veterans. The demand pressure indicators of the happy house development projects are stock ratio of small-sized houses, rate of rise in housing rent price, level of housing rent price, and rate of monthly rent house.