論文
持ち家資産を活用した高齢者世帯の経済的自立
──青森県を事例とした地方におけるリバースモーゲージの活用可能性に関する考察──
キーワード:
Reverse Mortgages,
Home Equity,
Comparative Statics,
Aomori Prefecture,
Economic Independence
2018 年 48 巻 2 号 p. 277-300
詳細
2018 年 48 巻 2 号 p. 277-300
As population aging progresses, reverse mortgages in which one’s own residential assets can be transformed into income, are gaining significance worldwide. In Japan, however, reverse mortgages have failed to gain popularity and only a very small number of financial institutions offer them.
In this study, I focused on the collateral valuation rate, the borrowing rate and the land price fluctuation rate to examine conditions for the spread of reverse mortgages with low land prices and conducted a comparative statics analysis under specific fixed conditions. Additionally, from the perspective of asset liquidation, I investigated indifferent conditions through a comparison of the use of reverse mortgages and selling one’s own home as an alternative option. From this analysis, I conclude that even given a certain degree of fluctuation in interest rates and land prices, provided that reverse mortgages can be offered with a collateral valuation rate of approximately 70% or more, reverse mortgages can be utilized effectively in regions with low land price such as Aomori Prefecture.
In order to promote the economic independence of elderly people in the region, government and financial institutions must collaborate in the planning and design of reverse mortgage as financial products with a collateral valuation rate of 70% or more.
JEL Classifications: B21, R13, R21
