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Effects of Parents' Homeownership on the Economic Performance of its Offspring

  • Korea Real Estate Review
  • 2018, 28(3), pp.7-19
  • DOI : 10.35136/krer.28.3.1
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate
  • Published : September 30, 2018

Kim Ju Young 1,  Jin Kim 2

1상지대학교
2한남대학교

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ABSTRACT

Prior studies concerning the analysis of parents’ homeownership on its offspring usually focus on the transmission of tenure between two generations. This study adopted a more comprehensive approach on this topic so the effects of parents’ homeownership were analyzed through the economic performance of their sons. Korean labor panel data were used to test hypotheses on intergenerational transmission of parents’ homeownership. The period covered years 2000 to 2014, consisting of about 862 samples, while many socioeconomic variables were selected through a filtering process. The results of the three hypotheses showed the following consequences. First, parents’ homeownership was a meaningful factor in determining their son’s housing tenure. Second, parents who are homeowners tended to have more educated sons. Third, parents’ homeownership did not affect their son’s annual income. This study showed more extensive effects of homeownership, and government strategy must consider this additional benefit in homeownership policies.

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