• Journal of the Korean housing association
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• v.25 no.5
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• pp.73-82
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• 2014

The purpose of this study is to identify U.S. Baby Boomers' intention to move and their reasons for moving after retirement, and to examine the associations between their socio-demographic characteristics and housing characteristics, and their reasons for moving after retirement factors. A total of 403 usable data were collected through an online survey using a self-administrated questionnaire. For data analyses, descriptive statistics, factor analysis, t-test, and ANOVA were used. Almost 30% of the total respondents considered moving and 15% were strongly agreed to move after their retirement. The most frequently mentioned reasons for moving after retirement were 'a place with good weather', 'being close to leisure activities', and 'a change or decline of my current neighborhood'. Four factors of reasons for moving after retirement (quality of residential environment, need assistant, proximity to activities, and proximity to family/friends) were identified. Age, marital status, number of household, housing type, homeownership, length of residence, and number of bedroom were significantly associated with the four factors of reasons for moving. The results of this study provide a better understanding to U.S. Baby Boomers' housing behavior after retirement which is 10 years faster than Korea, and suggest insights of housing plan for Korean older adults.

• Journal of Cadastre & Land InformatiX
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• v.48 no.1
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• pp.35-53
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• 2018

Recently, there is a growing interest in housing policy to prepare for the aging society. The purpose of this study is exploring the factors that explain housing consumption and adjustment of pre-retirees after retirement. 1,351 samples were collected from A bank and analyzed. There categories of housing consumption adjustment were considered including downsizing, maintain, and upsizing. Gender, educational level, housing size, housing type, asset size, and willingness to work after retirement were examined to see if they can explain the housing consumption adjustment of pre-retirees using orderd- probit model. The finding of this study is that housing size, asset size, and willingness to work after retirement statistically significantly explain the housing consumption adjustment. At specific, firstly, if the current size of the housing is relatively large, it is highly likely to downsize housing after retirement. Second, pre-retiree whose assets exceeded 1 billion won were more likely to scale up housing than assets of over 300 million to less than 500 million won. Lastly, unless there is absolutely no willingness to work after retirement, it is indicated that it intends to up-sizing consumption rather than down-sizing adjustment. The results of this study can provide useful information for the housing policy in order to prepare for the (post) aged society.

• Journal of the Korean housing association
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• v.25 no.1
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• pp.73-80
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• 2014

Korea is quickly transforming into an aging society. As a reaction to the accelerated aging society in recent years, there is a growing need to introduce sustainable housing policies and strategies for aging society. The main purpose of this study is to explore where people want to live after retirement. Especially, this study focuses on the residential environment such as housing types, residential location, and living environment. The main findings are as follows. First, people preferred living in a sububan-style housing in the suburban or rural areas to living in a city-style housing in the urban areas. Second, people have a strong preference for the importance of convenience in using natural environment, medical service, and cultural facilities. Third, the family life style has been changed from children-oriented life style to couple-oriented life style by showing that people like to stay with a spouse rather than with their children after retirement.

• Journal of the Korean housing association
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• v.21 no.5
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• pp.83-92
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• 2010

The advent of an aging society has raised the necessity for housing development to meet the growing demands of baby boomers expected to act as the main consumers in the future housing market. This study aims to identify the characteristics of apartment houses favored by baby boomers in their post-retirement plans. Based on a literature review and survey, the study is targeted at a certain baby boom generation residing in mid- sized and large-sized apartments with a floor space of more than 30 pyeong in Gangnam, Seoul. The study reveals that baby boomers favor an active post-retirement life where they can enjoy proper leisure without considerable change in daily routines, and for that reason they choose an apartment house well equipped with neighboring, convenient facilities for their post-retirement. Their housing size shows a downward tendency in response to changes in economic conditions and number of family members living together. Health-related factors such as a comfortable natural environment and greenery also play a key role in their residence selection. Their regional preference is divided into the downtown and suburbs, and thus it will be necessary to satisfy the needs of these two consumer groups in the future housing market. This study lays the foundation for offering basic materials for the development and marketing of apartment houses.

• KIEAE Journal
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• v.10 no.5
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• pp.101-108
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• 2010

It is estimated that the elderly will constitute 24.3% of the entire Korean population in 2030, when about 7,125,000 baby boomers reach retirement age. Therefore, this aging phenomenon might be the most urgent issue facing Korean society. The baby boom generation shows a strong tendency to dispose of existing residences or move into new housing after retirement, thereby exerting enormous impacts on social and economic sectors as well as the housing market. Against this backdrop, this study aims to identify both factors and patterns behind baby boomer retirees' post-retirement housing transfer trends. To this end, a survey is undertaken here with respect to those baby boomers living in Gangnam-gu and Seocho-gu with actual housing transfer plans in the foreseeable future, and who can act as a practical consumer group for the future housing market. This study verifies baby boomers' diverse preferences for housing type. Their preference for apartment houses still remains high in every situation, and this has significant implications for changed preferences of other housing types considering that most of the survey respondents currently reside in apartment houses. According to the survey, there are more than 80 kinds of baby boomers' housing transfer patterns, which demonstrates that more than half of the survey respondents pursue different housing mobility plans. When it comes to the factors behind their housing selection, the baby boom generation shows a strong preference for physical factors. However, environmental and psychological factors gain more momentum under unfavorable circumstances, while social factors play a decisive role in their housing selection in categories such as 'couple/deteriorating health' and 'single/healthy'.

• Journal of Families and Better Life
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• v.27 no.1
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• pp.1-16
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• 2009

Using the 2007 Fund Investors Survey, we investigated (1) the differences in economic status in terms of household income, consumption, saving, assets and debts, (2) the differences in financial management behavior, (3) and the differences in confidence in economic status after retirement between households conducting and not-conducting financial preparation for retirement. The major study findings were as follows. First, only 46.4% of the households were financially preparing for retirement. The levels of income, consumption, and saving were higher among households conducting financial preparation for retirement than among those not-conducting such financial preparation. Second, households conducting financial preparation for retirement had a relatively high propensity to save. Their financial asset portfolio had a higher weight in safety assets and investment assets than in retirement assets. Due to their lack of confidence in their economic status after retirement, their demand for financial preparation for retirement remained. Third, the households which did not conduct financial preparation for retirement tended to have a relatively heavy debt burden and not to implement general household financial management practices. Fourth, among the three-pillar retirement income system, the second pillar, of individual retirement account was not well established. Based on these results, various implications were suggested.

• Journal of the Korean housing association
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• v.28 no.3
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• pp.75-83
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• 2017

The purpose of this study was to identify some residential characteristics of Post-retirement and characteristics of the Continuing Care Retirement Communities (CCRCs) favored by those baby-boomer generations soon retiring. A web-based online survey was conducted with middle-class baby-boomers living in the Seoul-Incheon-Gyengki capital area and the five metropolitan cities of Korea between 9th and 20th of February in 2017. A total 0f 507 responses were valid for statistical analysis. The findings obtained that they preferred living Urban outskirts after retirement; Desired area of post-retirement was differentiated depending on asset and educational attainment; 63.4% of respondents had no intentions to live with adult child; a combination of independent living and assisted living was the most preferred form of the CCRCs; Over 80% of respondents had intention to live in independent living, assisted living and nursing home; and Intention to live in assisted living and nursing home was differentiated depending on Intention to live with adult child. Among the four Community-linked types, the Hospital-based one was most popular. The University-based and Religion-based ones were then preferred by females than males. The results obtained here can be used for reflecting the residents needs when planning the CCRCs in Korea.

• The Journal of Economics, Marketing and Management
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• v.12 no.2
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• pp.51-60
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• 2024

Purpose: The purpose of this study was to analyze the factors influencing the housing satisfaction of the new middle-aged who returned to farming to derive the implications of real estate policies to resolve regional imbalances. Research design, data and methodology: As a result, this study used secondary data, housing survey data, and identified factors influencing housing satisfaction through multiple regression analysis as well as basic analysis such as exploratory factor analysis, reliability analysis, technical statistics analysis, and correlation analysis. Previous studies, in particular, mainly focused on aging, retirement, economic activity, and retirement preparation, but this study was able to derive predictive factors that can increase the persistence of living after returning to farming by analyzing housing satisfaction for the new middle-aged, and as a result, suggest implications for resolving regional imbalances. Results: As a result of the analysis, it was found that housing structure status had the greatest influence among the three factors of housing-related predictors: housing structure status, facility accessibility, and surrounding environment, suggesting that policy alternatives that can improve the quality of the housing structure itself should be prepared rather than facility accessibility and the surrounding environment. Conclusions: Based on these results, we discussed implications for improving the housing structure to increase the continuity of living for the new middle-aged after returning to farming, and presented follow-up research directions on the need for complementary research in addition to individual analysis of influencing factors, limitations of secondary data, and the lighting of research on the new middle-aged and other generations who did not return to farming.

• Journal of the Korean housing association
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• v.21 no.2
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• pp.77-86
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• 2010

Korean population is now aging at an unprecedented rate. Fertility decline together with rapid improvements in life expectancy is the dominant demographic trend. As human life and housing environment are inseparably related to each other, the importance of conditions of housing environment for active aging among seniors has been received considerable attention as vital ones to expand the independency period of seniors. The purpose of this case study is to identify relationships between environmental affordance and perceived holistic health of the active elderly living in a retirement community located in Seoul. With spending time personally in the community to observe their lives, the researcher could be in close rapport with the residents. After the period of getting familiar with each other, in-depth individual interview and focus group interview were conducted and then, qualitative analysis was completed. As a result, general evidences showed that perceived seniors' health on the whole was improved physically, socially, and mentally by moving into the community providing appropriate environment affordance with the older adults. The study presents that retirement relocation into an improper environment may be a negative challenge, however, it may positively influence on the health and well-being of those who live there if the environment properly supports seniors‘ needs physically and socially

• Journal of The Korea Institute of Healthcare Architecture
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• v.16 no.1
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• pp.55-63
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• 2010

The study was initially designed to look into the soon-to-be senior citizens' preferences for the life after retirement in aging society. Its outcomes are to be contributed to grading up the quality of housing culture through examining the expected changes of housing types in the future. The increasing number of the soon-to-be senior citizens becomes leading subjects in information, culture and consumption areas. Therefore it is significant to present a model of housing types for those citizens by analyzing their preferred residence after retirement. To complete those objectives, a set of questionnaires concerning sex, age, district, education and income of those subjects in 40's-50's, who are expected to be more than 20 percent of national population by 2030, were collected and analyzed to find out their preferences over housing types, residential welfare facilities, and co-housing. The results show that the preferences over the residential welfare facilities and co-housing for those who are able to move for themselves are low, while the preferences over single-unit houses in the suburbs within 2 hours from a city are very high. Preferences for apartments in the urban areas are high for those with high income and education. In contrast preferences for life in their hometowns are high for those whose income and education are relatively low. Most of those with some difficulties in moving for themselves want to get help with welfare facilities for the elderly people. And the preferences of those who want to receive help from assistants are different from those preferring to get help from their offsprings, which tells a need for further study of the convertible housing types according to their family members.