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The home ownership, public expenditure and change of home ownership rate

  • Korea Social Policy Review
  • Abbr : KSPR
  • 2017, 24(4), pp.3-29
  • DOI : 10.17000/kspr.24.4.201712.3
  • Publisher : Korean Association of Social Policy
  • Research Area : Social Science > Sociology > Medical / Welfare / Social policy
  • Published : December 31, 2017

Eun Min Su 1

1고려대학교

Accredited

ABSTRACT

The study checked whether the trade-off relationship between the home ownerhip and welfare by Kemeny and Castles was still valid in four welfare regimes, and analysed the factors of change and stability on rate of home ownership between social democratic states and southern european states. Based on the results of the study, the relationship between housing ownership and public expenditure was confirmed only in the liberal welfare regime and in the conservative welfare regime, as evidenced by the 2014 data collection. Second, social democratic states have dramatically increased housing mortgage loans and showed signs of housing commodification but southern european states have showed pre commodification of housing, maintained comparatively whole home ownership and low mortgage loans. Third, social democratic states has resulted in a rise in housing demand and housing prices, through reduced new housing and social rented housing construction, home ownership friendly taxation and generous lending policies, but southern european states have maintained a stable housing demand and housing prices thanks to the rich housing stocks, extended family, self provision and self promotion by close relatives, and intergenerational inheritance and transfers of housing. Although sequence of the equity ownership and welfare are still unclear, it is not a rational alternatives to induce housing ownership through large mortgage loans.

Citation status

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