• Journal of the Korean housing association
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• v.10 no.3
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• pp.221-229
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• 1999

The purpose of this study is to investigate the housing affordability of multi-family dwelling in Seoul and to systemize the housing expenditure patterns and housing affordability according to household and housing characteristics. Housing expenditures are basically composed of the payments of four major items. including utilities. home alteration and interior furnishing. home mortgage debt. and monthly rent. Housing affordability index as operationally defined in this study is Housing Expenditure-to-Income Ratio (HEIR). The ratios were computed for each of the four housing expenditure items. Data for 465 multi-family dwellers were gathered from the structured questionnaire. The results showed the differences between household and housing characteristics on housing expenditure levels and HEIR. In addition. this differences had influence on future housing choice behavior. The analysis on the variables of housing choice behavior showed the result that user cost considering capital gains were less important. comparing those of early 1990's.

• The Journal of the Convergence on Culture Technology
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• v.9 no.2
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• pp.113-118
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• 2023

This study analyzed the effects of macroeconomic variables, including housing affordability, and bank loan-related variables on variation in housing prices using multiple regression models. As a result of the analysis, consumer price growth rate, the total currency growth rate, and the housing affordability growth rate had a significant positive effect on changes in housing prices. As a result of analyzing the period of rising and falling housing prices, consumer price growth rate and the total currency growth rate during the period of rising housing prices had a significant positive effect on housing prices. Unlike the period of rising housing prices, the growth rate of household loans was found to have a significant positive effect on changes in housing prices. On the other hand, unlike the period of rising housing prices, the growth rater of mortgage loans was found to have a significant negative effect on changes in housing prices. The growth rate of housing affordability index did not have a significant positive effect on changes in housing prices during a falling housing prices. The determinants of housing prices showed different patterns during the period of rising housing prices and falling housing prices.

• Journal of the Korean housing association
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• v.23 no.5
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• pp.31-39
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• 2012

This study has analyzed the effect of the housing affordability improvement of the residents in the metropolitan areas, applying Transit Supportive Home Loan (TSHL) which extends the loan amount according to the transportation cost saving based on Location Efficiency Mortgage (LEM) System in the USA. The previous studies focused on introducing LEM system to Korea, whereas this study has analyzed TSHL effect for the first time, taking into account the situation in Korea. For analysis, The Transportation Savings (TS) is calculated and Housing Affordability Index (HAI) is drawn by applying increased TS and DTI (Debt to Income), so the improvements of housing purchasing ability is examined by HAI's improvement. As a result, transit commute 1 (having own car) and transit commute 2 (without having own cars) respectively produce the TS of monthly average 36 thousand won and 110 thousand won in comparison with car using commute. Each additional loan (TSHL) amounts to 16.57 million won and 54.07 million won. As the distance is farther and the house price cheaper, the improvement of HAI is more outstanding. City hall area showed the highest improvements of HAI by 9.3% (transit commute 1) and 21.9% (transit commute 2) increase, in comparison with car using commute.

• Journal of the Korea Institute of Building Construction
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• v.8 no.6
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• pp.65-74
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• 2008

The aim is to get comprehensive view point for the price of apartment. Apartment construction cost is the sun of land cost and building cost. Land price reflects the value of location where building stands. When the gap between price and affordability is narrow enough, effective demand promote apartment construction. The today's trends of rising price, which began in apartment housing, spreads to real estates market and finally overall consumer price. Problem is that price is decided only by supplier's interest. Equilibrium-pricing is common process in housing market. However it is important to review hedonic price and the factor of housing services and focused on the affordability of demanders. AHP analysis was used to study real needs and preference of demanders and dealt with 200 interviewees with brief checklists. We found that social factor is more important than building cost or site development. Especially location of apartment is most important to affect environment quality and accessibility to facilities.

• Journal of the Economic Geographical Society of Korea
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• v.12 no.4
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• pp.507-520
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• 2009

The purpose of this study is to analyze the changes in the housing instability of low-income households through their residential mobility. The concept of housing instability is measured by taking into consideration of housing types, number of moves, period of homelessness, and housing affordability index. The result of this study shows that housing instability of low-income households owned their homes is mainly caused from their old housing built in at least 1980, and that of tenant households is due to the heavy burden of rent-to-income ratio. By using multinominal logit model, the study finds that low-income tenant households are more likely to move upwards as they are man-headed, aged and relatively high-income if we categorize residential mobility into four types: upwards, equivalent, trade-off, and downwards migration. Considering that the share of homeowners moving downwards increases while the share of tenants moving upwards decreases as they reside increasingly nearby Seoul, the study finds that low-income households living in big cities are no better off to improve their residential instability for themselves than the low-incomes in local small and midium cities. Furthermore, both low-income owners and tenants are less likely to move downwards as the ratio of single-family housing in former residence increases. Such finding has a policy implication that government needs to maintain affordable single-family housing stock rather than supplying excessive unaffordable multi-family housing in order to enhance residential instability of low-incomes households.