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Determinants of Housing Expenditure in Seoul Metropolitan Area, 2006~2014: Application of Multi-level Model

박경준 1 Lee, SeongWoo 1

1서울대학교

Accredited

ABSTRACT

The purpose of the present study is to identify determinants of the housing expenditure. This study pay special attention to loan repayment for housing sustenance. We apply a multi-level model for the study utilizing the housing survey data from 2006 to 2014 in Seoul metropolitan area. The main findings are as followings. First, housing expenditure increases during the periods. The ratio of housing expenditure to permanent income decrease as permanent income increases. Householders with lower education and job level pay more housing expenditure than the counterparts of the variables. These results show that Schuwabe’s law is working in the Seoul metropolitan area. Low income group has harsher burden in housing expenditure than the high income group and people socially and economically weaker are easy to get in debt to pay housing price. This study also found that housing expenditure is regionally differentiated in the Seoul metropolitan area.

Citation status

* References for papers published after 2022 are currently being built.