From the perspecitve of Housing asset-based welfare, homeownership has an impact on social benefi... more From the perspecitve of Housing asset-based welfare, homeownership has an impact on social benefit as well as asset accumulation effect. It has been known that homeowners are more interested in local affairs than tenants since they want to maintain their investment as a form of housing in terms of economic and psychologic viewpoints. However, it is hard to find such studies which have dealt with social impact of homeownership and most of current literature are focused tenure choice, dwelling satisfaction or asset accumulation impact in Korean context. This study tried to examine whether higher homeownership rate is related with higher voting rate in urban areas with a view that housing can be a tool of local capacity building instead of mere investment target by applying multiple regression analysis. According to the analysis, homeowneship rate is positively correlated with voting rate when we control the other socioeconomic, demographic, political and regional variables. With this result, it is suggested that housing welfare policy should tackle the issues related to enhancing affordability of households to purchase their housing in addition to current policy focused on wide supply of public rental housing.
From the perspecitve of Housing asset-based welfare, homeownership has an impact on social benefi... more From the perspecitve of Housing asset-based welfare, homeownership has an impact on social benefit as well as asset accumulation effect. It has been known that homeowners are more interested in local affairs than tenants since they want to maintain their investment as a form of housing in terms of economic and psychologic viewpoints. However, it is hard to find such studies which have dealt with social impact of homeownership and most of current literature are focused tenure choice, dwelling satisfaction or asset accumulation impact in Korean context. This study tried to examine whether higher homeownership rate is related with higher voting rate in urban areas with a view that housing can be a tool of local capacity building instead of mere investment target by applying multiple regression analysis. According to the analysis, homeowneship rate is positively correlated with voting rate when we control the other socioeconomic, demographic, political and regional variables. With this result, it is suggested that housing welfare policy should tackle the issues related to enhancing affordability of households to purchase their housing in addition to current policy focused on wide supply of public rental housing.
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