• Journal of the Korean housing association
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• v.26 no.2
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• pp.89-101
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• 2015

The purpose of this study is to explore the housing pathways of middle-class married women toward owning a first home. In doing so, an in-depth interview as a qualitative method was conducted, life history was utilized to track down the path to first-home owning, and all the interviews were transcribed for analysis. The research participants were well-educated middle-class full-time housewives owning a home. The findings indicated that family formation through marriage and child birth was a primary driving force to buy a home. It was shown that owning a home was perceived not just as a stepping stone for building both family wealth and social capital but as one of the most important pillars to reinforcing traditional family values. In spite of some intergenerational distinctions on the path toward home owning, commonalities across generations included that home owning was considered to be a social icon for middle-class, it became almost impossible for younger generations without parental support which stimulated the intergenerational transfer of wealth, and it was greatly determined by both family income (affordability) and home finance options(borrowing capacity). This research implies that the changing social landscape transforms the value on homeownership and could undermine the socioeconomic strengths of home owning. Nonetheless, it's of importance to strategically assist first homebuyers who are likely to be a member of middle-class.

• Journal of Families and Better Life
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• v.29 no.3
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• pp.13-22
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• 2011

The purpose of the study is to analyze the residential mobility effects and planning discrepancies of home-owning households and renting households. The data for the empirical analysis were collected from 248 units residing in Ulsan and were studied using descriptive statistics, chi-squared tests by cross-tabulation and multiple regressions. The majority of the households did not experience a change in types of housing structure or ownership after the residential mobility. However, the housing size increased after residential mobility, showing that most moves were due to the deficit of housing sizes. In terms of future mobility plans, there were significant differences between home-owning households and renting households. More than two-thirds of the renting households were willing to move within 2-4 years to obtain home ownership. On the other hand, most home-owning households were willing to move for housing size, education of the head, and investment purposes. Compared to the forty-four percent of the home-owning households, seventy-two percent of the renting households were willing to relocate, which shows the effects of unstable housing circumstances.

• Journal of the Korean housing association
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• v.28 no.1
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• pp.83-93
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• 2017

This research intends to find out the impact of housing wealth of home-owning pre-retirees and older adults consisting of young-old, middle-old and old-old groups on their household consumption. In doing so, this research analyzes 2,350 home-owning households by utilizing the 17th Korean Labour and Income Panel Study (KLIPS). The results show that housing wealth has a statistically significant effect on non-durable consumption of the pre-retirees, and young-old and middle-old groups of older adults, and housing wealth has a much stronger effect on household expenditure than does financial wealth or real estate. It's found that the consumption elasticity is particularly greater for female-headed households living in SMA, residing in apartments, holding a lower debt-to-asset ratio and being a pensioner. The empirical findings imply that the old-old group of older adults is unlikely to actively tap into their housing windfalls since housing asset becomes the last to dispose in the course of an individual's life. As housing wealth effects are especially strong when liquidity constraints faced by older adults are removed, it's of significance to substantially reduce household debt before retirement in order to constantly maintain an adequate level of household consumption or to promptly prepare for future contingencies.

• Korean System Dynamics Review
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• v.12 no.2
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• pp.5-36
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• 2011

Seoul citizens are currently suffering from high housing price. Home prices have risen more rapidly than salaries so owning a housing unit (apartment, condominium, or single-family home) in Seoul is becoming more difficult than ever. Therefore, this research examines the behavior of average Seoul citizen in owning housing unit in Seoul, Korea, particularly in terms of the length of time required to afford a house unit. This research estimates that it will take about 18.75 years in maximum after getting a job (12.75 years after purchasing the housing unit) to own housing unit in Seoul that is currently valued at $300,000 where the growth rate of income is 2.97% and consumption price increases at a rate of 2.95% per annum. Finally in this research, the optimal growth rate of housing price is estimated ranged from 3.5 to 4.0% minimizing the loan payoff period.

• Journal of the Korean Home Economics Association
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• v.41 no.5
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• pp.205-220
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• 2003

The purpose of this study was to investigate factors affecting consumer's housing tenure status by various household's characteristics. This study used 1997 KHPS(Korea Household Panel Study) by Daewoo Economic Research Institute and used 1,977 households for the analysis. The results of this research were summarized as follows; 1. There were major differences in household's characteristics by consumer's housing tenure status, except for the household's monthly income and savings. 2. Factors affecting consumer's choice of ‘owning’ a housing and taking a ‘chonsei’ system were very similar, but they affected in the opposite direction. 3. Factors affecting consumer's choice of taking a ‘chonsei’ system and ‘renting’ a house were much more similar, and they affected in the same direction. This study can be useful in developing housing service and design, and housing policy by consumer's choice of housing tenure status.

• Human Ecology Research
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• v.61 no.2
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• pp.183-194
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• 2023

The purpose of this study was to examine how sociodemographic status, family-related influences, and perceived future economic prospects were associated with the possibility of getting married and having children in a sample of 607 single young Korean adults. The sample comprised unmarried men and women in their 20s and 30s taken from the 2021 Seoul Family Report survey, and descriptive statistical and multiple regression analyses were conducted on the data. The results indicated that age, non-traditional marriage/childbearing values, parents' marital relationship during childhood, and the prospect of having a stable job and owning a home were significantly related to the possibility of marriage. With regard to the possibility of having children, a significant relationship was found with age, level of education, non-traditional marriage/childbearing values, recognition of the importance of family, parents' marital relationship during childhood, and the prospect of having a stable job and owning a home. The study also examined the importance of policies that make the possibility of marriage and having children more appealing to young unmarried adults in Korea by providing a positive outlook for the economy, a sense of stability, and a supportive approach to the value of having a family.

• International Journal of Human Ecology
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• v.2 no.1
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• pp.77-94
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• 2001

This paper expands empirical research on family satisfaction by introducing the family APGAR scale, developed and validated in the field of nursing, to measure the satisfaction of business-owning families and applying the Stafford et al.(1999) model of sustainable family businesses to the assessment of family satisfaction. More specifically, this study compares the differences in the effects of business- and family-related variables on family satisfaction for the families of lifestyle business owners and earner business owners. The sample was drawn from the 1997 National Family Business Survey. The family satisfaction was greater for the families of lifestyle business owners, but the family variables made a greater contribution to the explanation of variance in the satisfaction of families of earner business owners. The regression equation explained a higher percentage of the variance for the families of earner business owners. Nine family variables were significant in the satisfaction equation for earner business owners, in contrast to seven significant family variables in the equation for lifestyle business owners. Structured families had a significant positive effect on the satisfaction of lifestyle business owners. The family manager's education, putting the family first rather than the business, and the family management score had significant effects on the satisfaction of earner business owners.

• Journal of the Korean housing association
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• v.27 no.6
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• pp.95-104
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• 2016

The purpose of this research is to compare housing wealth effects of home-owning single income couples (SIC) and dual income couples (DIC) on their non-durable consumption and to assess the effects by location, age groups, housing structure type, debt-to-asset ratio and employment status. Using the Korean Labor and Income Panel Study (KLIPS) of 2014, this empirical study identified 1,198 SIC households and 1,044 DIC households, and employed multiple regression analysis. The main results reveal that the difference of financial portfolios between SIC and DIC households was little but housing wealth effects were stronger among SIC households than DIC counterpart. It's evident that housing wealth effects were conspicuous for SIC and DIC households who were headed by wage earners aged over 40s, and resided in apartment outside the Seoul Metropolitan Area. However, household debt became a determinant in contradicting housing wealth effects of SIC and DIC households. While the household financial dimension was in proportion to income, DIC households didn't gain much financial security due to increasing expenditure. Further, this research imply that liquidity constraints explicitly posed a more serious threat to SIC households whose dependence on housing asset is larger than their counterpart.

• Journal of the Korean housing association
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• v.26 no.3
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• pp.45-54
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• 2015

The purpose of this research is to analyze the wealth effects of home-owning baby-boomers on household consumption on non-durable goods in the Seoul Metropolitan Area. In so doing, this empirical study utilized the Korean Labor and Income Panel Study (KLIPS) of 2002 and 2012. The statistical findings reveal that household wealth in the period had sharply risen in household income, asset, debt and consumption, and the substantial increase came from growing income and consumption embedded into an expansionary stage of the family life cycle. Further, housing wealth had a much greater effect on consumption expenditure than did financial asset in 2012 while financial wealth effect was larger than housing wealth effect in 2002. Housing wealth effects had become far stronger as the age of the baby-boomer householders increased. As the baby-boomers are close to the retirement stage, post-retirement income security becomes of concern, so that the wealth effect of real estate income as an income alternative for retirees is explicit. The results imply that retirement of baby-boomers is likely to reduce consumer spending, aggravating slowdown of the real economy. Thus, diversification of household asset portfolio in a pre-retirement period is of great significance in maintaining adequate household consumption in later life.

• Journal of Families and Better Life
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• v.14 no.4
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• pp.233-248
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• 1996

The purpose of this study were 1) to identify housing consumption over family life cyle and 2) to analyze the propensity of residential mobility and its contributing factors over family life cycle. For these purposes the 1993 KHPS data was used. The sample in this study consisted of 2,796 couple households. Satistics employed for the analysis were frequencies means and logistic regression analysis. As the number of children and the children's age increased the housing consumption increased. There were many factors such as husband's education satisfaction of health and family relations monthly income wealth debt owning a car home ownership duration of residence and the satisfaction with housing contributing to housing consumption and propensity to move. Those with home ownership higher wealth higher satisfaction with health higher expenditure, longer duration of residence and higher satisfaction with housing tend to move more frequently. However those with low educational attai ment less satisfaction with family relation less income and having no debts were likely to move.