Determinants of Home-ownership in a Developing Economy: the Case of Korea

Lim, Gill-Chin; Follain, James R.; Renaud, Bertrand

doi:10.1080/00420988020080021

Cited by 23 publications

(12 citation statements)

References 5 publications

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“…Besides this, Lauridsen and Skak, 2007, noted that with the credit rating of individuals increasing with (expected future) their annual income level, one can expect ownership rates to increase with household income. What is more, Lim et al, 1980, confirmed that if a household doubles its permanent income, the probability of owning a home is increased by 0.19.…”

Section: Respondent's Background Informationmentioning

confidence: 88%

“…However, households that are loaded with children are typically high-wear households, which -because of adverse selectiontend to be renters (Lauridsen and Skak, 2007). Lim et al, 1980, also affirmed that on average, doubling the household size, with other things being equal, will increase the probability of homeownership by 0.43. Conversely, Jayantha, 2012, claimed that the relationship between household size and the rate of homeownership is expected to be negative.…”

Section: Respondent's Background Informationmentioning

confidence: 91%

“…In this regard, a study conducted by Lauridsen and Skak, 2007, confirmed that homeownership increases when the breadwinner is a man and that the odds ratio shows that the probability of homeownership increases by 23% when the breadwinner is a man. Similarly, a study by Lim et al, 1980, showed that a female-headed household is less likely to be a homeowner, all other things being equal.…”

Section: Respondent's Background Informationmentioning

confidence: 93%

“…People who own home are not only for shelter but owning of home is considered as an asset and fulfills the psychological and social need (Abdullah et al, 2012). The rationale is that greater home ownership would improve the general level of housing quality and facilitate savings and wealth accumulation within households (Lim et al, 1980). As cited in Okeyinka, 2014, homeownership confers exchange value, opportunities to raise money through the rent of a house, a nexus for a family, and a base for urban accumulation for present and future generations (Paradza, 2007).…”

Section: O Abstractmentioning

confidence: 99%

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Determinants of homeownership in the condominium housing sites of Ambo, Ethiopia

Kitila

2019

UKHJSS

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This study investigated the determinants of homeownership among the residents of the condominium housing sites of Ambo town, West Shewa Zone, Oromia Regional State, Ethiopia. It employed a descriptive research design, mainly using cross-sectional and correlational studies. A total sample of 230 respondents were selected through a random sampling method. The logistic regression model output showed that homeownership was determined by respondents’ gender, age, monthly income, saving practice, loan and credit services, marital status, and household size, while education level, occupation type, and land produced insignificant results. The chi-squared test and independent samples t test results also revealed significant associations and differences among and between different variables. The absence of land, lack of capital, bureaucratic system of land provision, limited loan and credit services, and high interest rates were also mentioned as determinant factors of homeownership. Moreover, mean values were computed to determine the adequacy and accessibility of basic amenities between the two sites. Therefore, the study recommends that the government should reformulate a profound housing policy that would improve the efficiency of the housing provision system and reduce the cost of homeownership.

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Section: Respondent's Background Informationmentioning

confidence: 88%

Section: Respondent's Background Informationmentioning

confidence: 91%

Section: Respondent's Background Informationmentioning

confidence: 93%

Section: O Abstractmentioning

confidence: 99%

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Determinants of homeownership in the condominium housing sites of Ambo, Ethiopia

Kitila

2019

UKHJSS

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“…Korean housing policies demonstrate alignment with other East Asian ones in that the expansion of owner-occupied housing has been the policy goal since the 1970s with the government setting high output targets (Lim et al, 1980). Korea's investment in housing has consistently accounted for around 7 per cent of GDP compared with 3-5 per cent in most other OECD countries.…”

Section: South Korean Housing Policy In Comparative Perspectivementioning

confidence: 98%

Homeownership in South Korea: Examining Sector Underdevelopment

Ronald

Jin

2010

Urban Studies

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Despite government emphasis on home purchase and four decades of extensive house building, levels of owner-occupation in South Korea remain relatively modest. This paper examines Korean homeownership policy development, identifying key reasons for the limited growth: the underdevelopment of housing finance; unproductive government intervention on property speculation; ineffective tax support for lowincome home purchase; and the structure of the rental sector. Korean housing policy is characteristically supply driven, which has expanded housing stock but distorted distribution, increased speculation and polarised housing wealth. This paper considers the underdevelopment of demand-side policies as the underlying failure in the sustainable and equitable expansion of homeownership. It also implicates housing more centrally in East Asian policy regime divergence.

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The Contributions of Stephen K. Mayo to Housing and Urban Economics

Malpezzi

2001

Journal of Housing Economics

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Determinants of Home-ownership in a Developing Economy: the Case of Korea

Cited by 23 publications

References 5 publications

Determinants of homeownership in the condominium housing sites of Ambo, Ethiopia

Determinants of homeownership in the condominium housing sites of Ambo, Ethiopia

Homeownership in South Korea: Examining Sector Underdevelopment

The Contributions of Stephen K. Mayo to Housing and Urban Economics

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