콘텐츠 바로가기
로그인
컨텐츠

Category Open

Resources

tutorial

Collection of research papers and materials on development issues

home

Resources
Economy Financial Policy

Print

Do children support their parents' application for the reverse mortgage? : A Korean case

Related Document
Frame of Image CATION FOR THE REVERSE MORTGAGE?: A KOREAN CASE
ILHO YOO, INHYOUK KOO
The purposes of the current study are (1) to examine trends in the custom of primogeniture and offsprings' perception regarding their inheritance, (2) to demonstrate why the younger generation, between 25 and 35, hesitate to agree with their parents' access to reverse mortgage and (3) to identify four group (demographic and geographic, residential condition-related, perception on real estate investment and perception on the reverse mortgage) characteristics which were significantly related to the willingness to approve parents' application for the reverse mortgage. In a random sample of 270 respondents aged between 25 and 35, 165 (62.1%) respondents replied negatively and 99 (37.9%) answered positively about parents' application for the reverse mortgage. Furthermore, throughout the logistic regression analysis, we found that residential areas such as metropolitan districts and Gangbuk are positively associated with the decision to support parents' application for the reverse mortgage. We also found that, in contrast, the younger generation's desire for inheritance in residential areas such as Gangnam, and the educational level of parents are negatively related to their decision to consent to parents' application for the reverse mortgage. JEL Classification: C12, Z10 Keyword: Reverse Mortgage, Inheritance, Young Generation's Perception
Ⅰ. INTRODUCTION AND OVERVIEW
Korea's population is aging rapidly owing to


Full Text
Title Do children support their parents' application for the reverse mortgage?
Similar Titles
Sub Title

A Korean case

Material Type Reports
Author(English)

Yoo, Il Ho; Koo, Inhyouk

Publisher

Seoul:KDI School of Public Policy and Management

Date 2008
Series Title; No KDI School Working Paper Series / 08-03
Pages 32
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Holding KDI School of Public Policy and Management

Abstract

"The purposes of the current study are (1) to examine trends in the custom of primogeniture and offsprings' perception regarding their inheritance, (2) to demonstrate why the younger generation, between 25 and 35, hesitate to agree with their parents' access
to reverse mortgage and (3) to identify four group (demographic and geographic, residential
condition-related, perception on real estate investment and perception on the reverse
mortgage) characteristics which were significantly related to the willingness to approve parents' application for the reverse mortgage. In a random sample of 270 respondents aged
between 25 and 35, 165 (62.1%) respondents replied negatively and 99 (37.9%) answered
positively about parents' application for the reverse mortgage. Furthermore, throughout the logistic regression analysis, we found that residential areas such as metropolitan districts
and Gangbuk are positively associated with the decision to support parents' application for
the reverse mortgage. We also found that, in contrast, the younger generation's desire for
inheritance in residential areas such as Gangnam, and the educational level of parents are
negatively related to their decision to consent to parents' application for the reverse mortgage."