A Framework for New Housing Policy

Jun-Hyung Kim (2022. 2), "A Framework for New Housing Policy" Journal of Korean Social Trend and Perspective, 114: 43-80.
김준형 (2022. 2), “주택정책의 틀 만들기”, 「동향과 전망」, 114: 43-80.

Abstract

The Framework Act on Housing sets the goal of housing policy on guaranteeing the right to adequate housing. To guarantee it, the policy should target the households which cannot afford the decent housing in the region. The policy shoud provide an affordable housing opportunity. However, the existing policy does not have the clear criteria to classify housing into a decent or poor one. The housing supply ratio, which assumes that the all housing are qualified misleads the policymakers. Although the housing policy must ensure housing affordability, it does not clarify the exact price and rent level which is affordable to the target households. The policy is designed on the basis of RIR or PIR statistics, which may not measure the real affordability problem, and only tries to provide housing under the market price, although it is not yet affordable. Housing is a location good, which implies the housing policy should address the locational requirements among target households. The current housing policy, however, does not consider the single boundary for one employment center. The new housing policy does not need to set larger numbers of new housing units, nor introduce a new policy brand. It should focus on building the policy framework to narrow the gap between the target households and policy measures.

Keywords

housing policy, housing problem, minimum standards for residential accomodation, housing affordability, residential location