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The Effects of Housing Finance Composition on Homeownership among Newlywed Households

Hojoong Bae 1,  Yang Eun Mo 2,  in su chang 3,  EunYoung Heo 4

1한국여성정책연구원
2국토연구원
3한국보건사회연구원
4사회보장위원회

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ABSTRACT

This study examines the role of housing finance arrangements in shaping homeownership outcomes among newly married households and identifies the key structural factors underlying their housing trajectories. Drawing on the general household sample of the 2024 Korea Housing Survey, the analysis estimates the associations between different sources of housing finance and the likelihood of homeownership, while controlling for household characteristics and regional contexts. The results show that, in addition to personal savings, mortgage borrowing from financial institutions and financial assistance from parents or other family members are significantly associated with a higher likelihood of homeownership. The composition of housing finance also emerges as an important factor, with greater reliance on mortgage borrowing and intergenerational family support associated with increased access to homeownership. By contrast, newly married households residing in the Seoul Metropolitan Area are significantly less likely to own a home, highlighting substantial regional disparities in housing affordability and opportunities for asset accumulation. Taken together, these findings demonstrate that homeownership outcomes are shaped not only by individual socioeconomic characteristics but also by broader structural conditions, including access to housing finance, intergenerational wealth transfers, and regional housing market constraints. The findings have important implications for housing and social welfare policies aimed at improving housing affordability and promoting stable housing pathways for young and newly formed households.

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