Boost, Control, or Both of Korean Housing Market: 831 Countermeasures
Publication: Journal of Construction Engineering and Management
Volume 136, Issue 6
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.
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Acknowledgments
This research was supported by a grant (Grant No. UNSPECIFIED05CIT-D05-01) from Construction Technology Innovation Program funded by Ministry of Land, Transport and Maritime Affairs of the Korean Government. This research supported by a grant (Grant No. UNSPECIFIED07UrbanRenaissanceA03) from High-Tech Urban Development Program funded by the Ministry of Construction and Transportation of the Korean Government.UNSPECIFIED
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Information & Authors
Information
Published In
Journal of Construction Engineering and Management
Volume 136 • Issue 6 • June 2010
Pages: 693 - 701
Copyright
© 2010 ASCE.
History
Received: Sep 16, 2008
Accepted: Oct 5, 2009
Published online: Oct 6, 2009
Published in print: Jun 2010
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