Journal of the Korean housing association (한국주거학회논문집)

The Korean Housing Association (한국주거학회)
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Generational Divides of Household Wealth and Propensity to Invest in Housing Asset - Baby-boomers and Eco-boomers in the Seoul Metropolitan Area -

세대 간 가계 자산구성 및 주택자산의 투자 성향 분석 - 수도권 거주 베이비부머와 에코세대를 중심으로 -

  • Lee, Hyunjeong (Dept. of Housing & Interior Design, Kyung Hee University)
  • 이현정 (경희대학교 주거환경학과)
  • Received : 2014.12.19
  • Accepted : 2015.02.12
  • Published : 2015.02.25
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Abstract

The purpose of this research is to examine generational distinctions of housing investment and household wealth for two different age cohorts - 'baby-boomers' and 'eco-boomers'. In so doing, national survey data of two different periods were analyzed and the primary results are summarized as follows; aggregate assets of both generations have risen, and the rising household debt for baby-boomers was related to loans for living expenses while eco-boomer's debt was ascribed to home-buying loans. In the midst of economic slowdown, the age cohorts had conservative asset allocation in preference for risk-averting investment like savings. The main purpose of saving and investment was distinctive across the groups? retirement for baby-boomers and home purchase for eco-boomers. Both groups prioritized reduction of household liabilities and also were cautious on investing in real estate. Still home-buying was considered to be an important driver for asset accumulation. While baby-boomers were unwilling to dispose any form of owned real estate, eco-boomers found it challenging to take on a long-term investment like home-buying, especially in economic uncertainties. Rather the young generation would diversify asset allocation with better-returning investment commodities like stocks, bonds and derivatives.

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References

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