공공임대와 공공분양, 어느 정책이 주거빈곤층 주거안정과 공공기관 재무건전성에 도움이 되는가?

Housing policy has changed its policy stance depending on the regime. Public housing is largely composed of ‘public lease’ and ‘public sale’, but there is insufficient discussion on which type of housing provision is more effective in achieving the policy goal of housing stability. Furthermore, we aimed to analyze the differences in the impact on the financial soundness of urban development corporations. While previous studies analyzed housing stability through a subjective indicator called housing satisfaction, this study objectively identified housing stability by using the ratio of non-housing residences as an indicator. In addition, in terms of the financial soundness of urban development corporations, the ‘debt ratio’, which is total debt divided by total capital, was set as a dependent variable. The data used in the analysis were panel data from 16 metropolitan cities and provinces from 2006 to 2021. The regression analysis of this study controlled the year through a ‘fixed effect model’ to consider the characteristics of panel data and control endogeneity. The results of the analysis empirically confirmed that the public lease is a more effective policy in terms of housing stability and the financial soundness of urban development corporations. In this paper, the policy effect was identified through a comparison of public lease housing and public sale housing, and it is expected to provide practical help in planning and designing public housing projects in the future.