| Title |
Analysis of the Korean Housing Market Mechanisms and Housing Sales Policies Using System Dynamics |
| Authors |
Park, MoonSeo ; Ahn, Chang-Bum ; Lee, Hyun-Soo ; Hwang, SungJoo |
| Keywords |
Housing Market ; Post-sales ; Sales Unit Price Restraint ; System Dynamics |
| Abstract |
From the beginning of 2000, Korean housing market has experienced cyclical volatility because of the global economic fluctuation such as steady decline in the interest rate and the house price bubble. In response to these state Korean Government announced policies about housing sales system kinds of Sales Unit Price Restraint and Post-Sales System to stabilize housing market. But such policies has brought unprecedented arguments both for and against, most of whom still seem to stick to self-centered judgement ahead of impact on housing market. In an integrated point of view, applying the system dynamics modeling, the paper aims at proposing basic Korean housing market dynamics models based on basis principles of housing market determined by supply and demand. And then, after research policies about housing sales system, analyze Impact on Korean Housing Market by change of Sales Systems applying policies to basic Korean housing market dynamics models. |