주택가격 결정에 미치는 주요 요인에 관한 연구

Stabilization of housing price in our society is very important in reality. The following matters are significant to stabilize the housing price above all things. First, the characteristic of housing policy of our country can be seen as having been a repetitive policy of strengthening and mitigating of regulations. That is, the housing policy of our country has been consistent in mainly regulating speculation and stimulating economic for stabilization of housing price, however, side effects such as conflict among homeless people were generated due to polarization of housing price, stagnation phenomenon of housing market, and generation of multi-housing owners. Therefore, appropriate regulations should be maintained suitable for the housing market with consistency of housing policies. In other words, gap settlement of the metropolitan areas and the regional areas, regulations for the multi-housing owners, supply policies for the homeless people, etc. should be preceded. Second, although the housing supply rate at the moment in our country exceeds 100%, the actual self-retention rate is only about half of that in reality. The reason is that shortage of self-occupied housing was generated due to imbalance between supply and demand of housing such as generation of multi-housing owners, low birth rate and aging society phenomenon, deepening of gap between the rich and poor, etc. Thus, appropriate supply should be implemented to fulfill the effective demand of housing. Above all things, measures to regulate the oversupplied parts should be considered. Regulation regarding the multi-housing owners, regulation of oversupplied metropolitan areas, regulation of speculation for controlling housing demand, restriction on reconstruction・redevelopment to meet the demand, and housing stock, housing reserve for the demand, etc. will be considered. Third, supply of housing should be implemented appropriately according to the demand. As a supply issue causes generation of unsold new house issues due to oversupply when analysis of housing situation and measurement of demand of long-term housing are not possible or when estimation of the size of supply is poorly done, in particular, supply restriction of oversupplied metropolitan area, prevention regarding multi-housing owners, supply of housing to the young generation and the common people for the self-retention rate should be preceded. In addition, countermeasures for the low birth rate and aging society, measures to increase the productive population, economy activation, settlement of the gap between the rich and the poor, etc. should be preceded. Fourth, the issue of housing loan of the class necessary of housing generates issues of ‘Gap Investment’ and ‘Investment in Stocks’ utilizing the loan. That is, cases of misusing the loan are generated resulting in the increase of household debts, burdening the government. In addition, there is a burden in interest in terms of raising the interest rate and burden for the lessees as the lessors (house owners) prefer monthly rent under the low interest situation, Therefore, there should be restriction on the household loans (strengthening of LTV and DTI) and the Debt Service Ratio (DSR). At the same time, changing to a fixed rate according to the increase in the interest rate and the pricing technique accordingly will be considered. Eventually, stabilization and consistency of the housing policy by the government, maintenance of appropriateness of supply and demand based on the principle of the housing market, regulations for increasing and decreasing the interest rate, etc. are necessary for the stabilization of housing price. For a concrete realization of this, proceduralization and institutionalization of housing plan based on accurate data and establishment of scope and limitation in terms of supply and demand of market-friendly housing as well as setting of controlling system regarding changes in interest rates are important above all things.