하부시장별 필터링을 이용한 공공부문 및 민간부문의주택공급효과 분석

Abstract

This study examines the effects of new housing stock supplied by firms in both public and private sectors. Specifically, we measure and compare the values of old and new housing which a given household occupies. The so-called filtering phenomena seem prevalent. Except for units redeveloped for rental purpose, all new houses experience increases in value regardless of the tenure choice and the kind of provider. Houses publicly-provided for general public command especially steep price increases, indicating that a measure should be taken to put it on a par with private counterpart. Secondly, the prices of owner-occupier houses appear to have risen more than those of rental units. On the contrary, residents of redeveloped rental apartments were found to pay less for their new homes, implying that the households had previously been forced to occupy the units they could barely afford. Future policies should be directed to elimninate the undesirable windfall gains while keeping the filtering process steady.