본문 바로가기
  • Home
Basic Search

A Study of the Effects of Reverse Mortgage for Alleviating the Elderly Poverty

  • Korea Real Estate Review
  • 2014, 24(4), pp.91-101
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

Lee Jin kyung 1

1상지대학교

Accredited

ABSTRACT

This study examines whether a reverse mortgage, which households live on their houses and they use as a mortgage source, alleviates the elderly poverty level. The paper researches on the actual condition of the elderly poverty and analyses the effects of reverse mortgage for alleviating the elderly poverty using a relative poverty rate(RPR) index, an absolute poverty rate(APR), and an income replacement rate index. The first finding is that elderly households have problems of super-aged speed and living alone, their disposable income is about 30% level compared with that of total households. Also, a public income transfer is about 32% among the disposable income. Their average housing price is 100 million won, their average real estate asset is 180 million won, and their average net asset is 200 million won. The second finding is that a reverse mortgage alleviates RPR and APR of elderly households. The decreasing level of RPR is 12%p, and it is largest when the real estate asset of elderly households is between 100 million and 400 million won. Also, the decreasing level of APR is 14%p and it is largest when the real estate asset of elderly households is between 100 million and 300 million won. The final finding is that a reverse mortgage has an optimum income security effect and an extension effect of income when the real asset of elderly households is over 200million won.

Statistics

  • 451 Viewed
  • 1 Downloaded

Tools

Issue List

Citation status

* References for papers published after 2023 are currently being built.

Basic Search Advanced Search