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Boost, Control, or Both of Korean Housing Market: 831 Countermeasures

Cited 11 time in Web of Science Cited 13 time in Scopus
Authors

Park, Moonseo; Lee, Man-hyung; Lee, Hyun-soo; Hwang, Sungjoo

Issue Date
2010-06
Publisher
ASCE-AMER SOC CIVIL ENGINEERS
Citation
JOURNAL OF CONSTRUCTION ENGINEERING AND MANAGEMENT-ASCE; Vol.136, No.6, pp.693-701
Keywords
831 CountermeasuresKorean housing marketPolicies
Abstract
Although the Korean government reported a housing supply ratio of more than 100% in the early 2000s, regional and class disparities in the Korean housing sector have not been correspondingly alleviated. Unfortunately, many Korean households are still enduring the economic burden caused by cyclical price variation, while many housing construction companies are on the verge of bankruptcy. To resolve the ever-expanding socioeconomic problems in the housing and real estate sector, the current Korean government proposed 831 Countermeasures, which has since met with much controversy. In an effort to address these issues, this paper utilizes a qualitative system dynamics model to elucidate and interrogate complex Korean housing mechanisms. By mapping bibliographical and experimental knowledge with causal loop diagrams, the positive and adverse effects of the 831 Countermeasures are also analyzed. Finally, based on the research findings, alternative policy guidelines are proposed that can be used to strengthen positive housing structures and obviate negative ones.
ISSN
0733-9364
Language
English
URI
https://hdl.handle.net/10371/80907
DOI
https://doi.org/10.1061/(ASCE)CO.1943-7862.0000159
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