Financial Structures of Real Estate and the Factors Influencing on It by Subjective Financial Adequacy for Later Years among Middle & Old Aged Households

Jeong, Woon Young; Lee, Hee Sook

doi:2010.48.4.1

J. Korean Home Econ. Assoc > Volume 48(4); 2010 > Article

Original Article

Journal of the Korean Home Economics Association 2010;48(4):1-12. doi: https://doi.org/10.6115/khea.2010.48.4.001

Financial Structures of Real Estate and the Factors Influencing on It by Subjective Financial Adequacy for Later Years among Middle & Old Aged Households

Woon Young Jeong¹, Hee Sook Lee²

¹Department of Family Environment & Welfare, Chonnam National University
²Department of Consumer Studies, Chungbuk National University

Corresponding Author: Hee Sook Lee ,Tel: +82-43-261-3148, Fax: +82-43-261-7166, Email: leehs@chungbuk.ac.kr

Received: October 30, 2009; Revised: November 5, 2009 Accepted: December 25, 2009.

ABSTRACT

The purpose of this study was to find the differences of financial structures of real estate and the factors influencing on it between two groups of subjective financial adequacy and non-adequacy for later years among middle & old aged households. The data were drawn from KREIS(Korean Retirement and Income Study) surveyed by National Pension Research Institute in 2007, and 3,889 couple households with householder's age over 50 were selected. Major findings were as following. First, only 19.3% of households answered that they had enough money for later years. And they had lower real estate-to-total assets ratio (.84) and lower residential house value-to-total assets ratio (.52) than the counter part. Second, for the group who answered that they had enough money for later years, the factors influencing on total real estate were found to be income, debt, and liquid assets.

Keywords: real estate, financial structure, the subjective financial adequacy for later years, middle & old aged households