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A Study on the Reverse Mortgage Demand by Consumption Function

  • Korea Real Estate Review
  • 2007, 17(2), pp.149-171
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

Lee，Choon-Sup 1,  Kim ， Sun Ju ORD ID 1

1건국대학교

Candidate

ABSTRACT

Recently, the elderly population is increasing in Korea and so public (tenure) Reverse Mortgage has been executed by a government. So it is necessary that the analysis of a Reverse Mortgage demand. This study analyzed a Reverse Mortgage demand by Consumption Function. The Consumption Function is estimated using the 2001 National Survey of Family Income and Expenditure by National Statistical Office. By using Consumption Function, the total consumption per year of private(Shin han Bank) Reverse Mortgage user from 2004. 5 to 2005. 12. The main purpose of this study is to study on deciding Reverse Mortgage demand. Exactly, I study the relation between total consumption per year and Reverse Mortgage monthly payment. The result of Shin han Bank Reverse Mortgage user`s total consumption per year and Reverse Mortgage monthly payment is same as this; total consumption per year is increasing, Reverse Mortgage monthly payment is increasing. The result of the Correlations analysis showed that the Correlations coefficient of total consumption per year and Reverse Mortgage monthly payment is 0.636. So Reverse Mortgage real demand is determined the Reverse Mortgage user`s total consumption. Reverse Mortgage is real income security for the elder classes.

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