부동산보유가구의 가계부채위험평가

Abstract

Currently, it has been a controversial political agenda how to solve the problem of so called ``house-poor`` who are home owners suffering from excessive debt service payment and decreasing house price. However, there is no consensus on how to define the house-poor and who are eligible for governmental supports. This study analyzes the financial and asset characteristics of real estate owners in order to define the house-poor in an operational way and to come up with a base line for selection of eligible groups for governmental supports using the 2011 Household Finance Survey Data. The results indicate that the estimated number of the house-poor is about 83 thousand households and that the number is reduced to about 50 thousand households in the case of their voluntary debt-restructuring. An interesting point is that a large portion of the house-poor are high income households or owning more than one house. If we restrict the policy target to low and middle income households owning only one house, the number becomes only 18 thousand households. Also, there exist sufficient number of potential house buyers who possess net financial asset free to debt burden. Therefore, a rational policy design for the house-poor is to attract the potential house buyers into the market and to provide the opportunity for voluntary debt-restructuring of the house poor.