• Korea Real Estate Review
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• v.28 no.1
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• pp.65-77
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• 2018

This paper analyzes the redemption risk of renters by estimating the LTV and CoLTV with finance market big data (individual credit information) and housing market big data (actual housing transaction data). The analysis showed that when using LTV, the redemption risk was higher in the case of the monthly renter than of the chonsei renter. On the other hand, when using CoLTV, the chonsei renter had a higher redemption risk than the monthly renter. This implies that there is a need to activate a guarantee system, such as risk management using the CoLTV index and the chonsei deposit return guarantee because it is possible for renters to experience losses on their chonsei deposits due to the higher redemption risk. Another implication is that the risk manager should consider the individual characteristics of renters because of the different effects of the redemption risk stemming from the characteristics of the rental contract and the personal characteristics of the renters. CoLTV was just a concept until this study calculated it using housing big data and actual housing transaction information. It helps identify the redemption risk through the characteristics of renters and their contracts.

• Journal of the Korean housing association
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• v.20 no.4
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• pp.69-78
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• 2009

The purpose of this study is to identify which is the better indicator to forcast housing tenureship between permanent income and current income, and study the effects of non-human capital asset on housing tenureship. To forcast permanent income, a statistic regression equation is used with current income as the dependent variable. Multi-nomial logistic model is used to forcast the housing tenureship Using current income as the dependent variable delivered a more accurate result than using permanent income. Current income is used as a dependent variable and sex, age, education and occupation are used as independent variables to forcast permanent income. Non-human capital asset is also used as an independent variable. Also, excluding non-human capital asset variable when forcasting bothe permanent income and housing tenureship proved to be more accurate. Because permanent income, the sum of future income and current asset, is a good indicator of current consumption including housing, the result with permanent income should be more accurate than the forcast using current income. This implies an underdevelopment of a housing mortgage system that enables people to consume now on the basis of their future income. The Korea's unique Chonsei housing rental system has also made it difficult to forcast housing tenureship based on people's permanent income and asset. While, the Key-money of Chonsei housing and the housing asset of homeowners with debt are very similar in their amount, the result is completely different. One is a renter and the other is a homeowner.