본문 바로가기
  • Home
Basic Search

Home Purchase, Financial Restructuring, and Housing Price Determinants among Non-Homeowning Married Households

Yang Eun Mo 1,  Hojoong Bae 2

1국토연구원
2한국여성정책연구원

Accredited

ABSTRACT

This study examines changes in household financial conditions and the determinants of housing purchase prices among married households transitioning from renting to homeownership. Using data from the Korean Labor and Income Panel Study (KLIPS), the analysis focuses on 1,839 married renter households that purchased their first home during the observation period. Specifically, the study investigates changes in household asset and debt structures before and after home purchase and identifies the factors associated with housing purchase prices through multiple regression analysis. The results indicate that households’ financial assets declined after home purchase, whereas debt levels increased significantly, suggesting a substantial reliance on mortgage borrowing and other forms of financial loans during the homebuying process. In addition, housing purchase prices were found to be significantly associated with the household head’s education and age, household income, duration of marriage, rental deposits and financial assets accumulated prior to home purchase, and regional characteristics. Notably, disparities in housing prices between the Seoul Metropolitan Area and non-metropolitan regions appear to contribute to unequal patterns of interregional mobility and asset accumulation during the transition to homeownership. These findings suggest that the transition to homeownership represents not merely a change in housing tenure, but also a critical financial event that substantially reshapes household asset portfolios and financial stability. This study contributes to the literature by conceptualizing the home purchase decision of renter households as a dynamic household-level financial decision-making process. The findings provide empirical evidence for the design of housing finance policies and contribute to policy discussions aimed at promoting stable asset accumulation among non-homeowning households.

Statistics

  • 1 Viewed
  • 0 Downloaded

Tools

Issue List

Citation status

* References for papers published after 2024 are currently being built.

Basic Search Advanced Search