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Effects of Household Life Cycle and Economic Characteristics on Household Debt

  • Korea Real Estate Review
  • 2014, 24(4), pp.225-236
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

Kim Ju Young 1

1상지대학교

Accredited

ABSTRACT

According to welfare panel data, middle class households have higher debt burden compared with other ones and also in terms of household life cycle, household head's age with 50s have higher debts than the other groups. This study helps to understand our viewpoints about the recent structure of household debt situation and determinants. Main results follows that. First, households who reside large city have more debt and economic situation of the household head determines their debt condition. Second, financial asset becomes one of the determinants to lower household debt. This means that portpolio of household asset have a meaning in keeping household debt with secure situation. Third, like other researches concerning with household debt, decision of real estate investment have a considerable effect of household debt. Research results shows that government need to have more careful approach in relaxing its financial regulations

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

This paper was written with support from the National Research Foundation of Korea.
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