주택금융규제가 소득분위별 주택소비에 미치는 영향

After currency crisis of 1997, financial institutions have preferred consumer loans which have lower risk and higher profitability than corporate loans. They have also increased the size of housing finance, which were mainly consisted of mortgage loans. As a result, Korea Federation of Banks and Financial Supervisory Service together came up with “proposals for improving credit screening system for mortgage loans” in an effort to make the loan-outs based on the debtor’s ability for debt redemption rather than on the size of collateral. Therefore, this study quantitatively compares and contrasts the effects of LTV constrained loans and DTI contrained loans using the loan limit model found in previous studies. It was suggested that DTI constrained loans increase the percentage of loan-limited families. It is also observed that the lower income family becomes harder to obtain its optimal housing consumption. Without certain amounts of accumulated assets, it is difficult to purchase a desired housing under borrowing constraints on the housing consumption.