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A Study of the Regionally Influential Factors in Reverse Mortgage Borrowing Decisions - City, County, District level Analysis

  • Korea Real Estate Review
  • 2016, 26(3), pp.39-47
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate
  • Published : September 30, 2016

임하나 1 Seungwoo Shin 2 Ro, SeungHan 2

1건국대
2건국대학교

Accredited

ABSTRACT

This study analyzes factors that determine Reverse Mortgage (RM) borrowing decisions of elderly households. In contrast to the previous studies which use individual data on elderly households, we rely on city⋅county⋅district (City) level analysis in order to investigate the regional differences between Cities with respect to RM subscription rate. The empirical results show that the education level of household head and [monthly annuity payment – minimum living cost] have positive signs while City income tax revenue, the inflation rate of housing prices, a ratio of elderly households, medical cost, number of life insurance subscription, and distance between City office and HF branch office have negative ones. All of them are statistically significant.

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