부동산 시장 변동과 청년층의 고용안정 추구 간의 동태적 관계에 관한 연구: 2010~2023년 패널데이터를 중심으로

Growing employment instability among young adults and increasing volatility in housing markets have emerged as structural challenges that extend beyond individual housing choices to the stability of regional economies. However, existing studies have largely focused on income levels or quantitative employment indicators, leaving limited evidence on how qualitative employment stability experienced by young workers is related to housing market dynamics. This study addresses this gap by examining the relationship between youth employment characteristics and regional housing market indicators. Using multi-level panel data at the individual and regional levels from 2010 to 2023, and grounded in the theoretical perspective that views labor as a quasi-fixed factor, this study investigates how employment in large firms—a proxy for qualitative employment stability—is associated with individual income stability and housing tenure choices, and how these characteristics are subsequently reflected in regional labor market structures and housing market outcomes. The individual-level analysis shows that employment in large firms is statistically associated with lower income volatility and housing tenure status among young households, suggesting that large-firm employment is observed not only with higher average wages but also with relatively more stable income characteristics. At the regional level, employment stability is not significantly associated with housing price levels, while directional associations are observed with housing price volatility. Additional analyses suggest that these relationships may vary across regions and over time, particularly in metropolitan areas and after 2015. Although these conditional relationships are not statistically identified, the findings provide exploratory evidence of heterogeneity in the employment–housing market nexus and offer empirical insights into the potential coordination between employment and housing policies.