The Research Of The Development Of Chinese Housing Reverse Mortgages

In 2000,China has entered an aging society ahead of time,aging problem is increasingly outstanding.the old people's living conditions,living standards by social attention Especially since China has been adopted a policy of double-track endowment insurance for a long time,after retirement income has larger difference from before retirement,leading to the quality of life and the living standards of most elderly is reduced after retirement.Although the government has eleven straight raising pensions,but still can't really solve the problem of low level of pension.And huge pension gap,and the vast number of old people,also creates greater pressure to the fiscal of the government.Housing reverse mortgages is a financial innovation products,which is a new way of borrowing,hereinafter referred to as "Housing Reverse Mortgages",can be used as an important supplement to pension,to guarantee the living standards of the elderly after retirement,to alleviate the pressure of the social security and finance,to perfect social insurance system,to correspond to the aging,etc.It is of great significance.Now in the United States,Canada,Singapore housing reverse mortgages has maturely developed which accumulated some successful experience for years.But in China,because of the policy,ideology,macro environment and other factors,the slow business development of housing reverse mortgages has not yet formed a successful model.Based on the successful experience of foreign countries and the domestic failure cases,this thesis points out some major problems existing in current housing reverse mortgages which are unclear positioning and fewer support of the government,the risk prevention and control method needs to strengthen and so on.And analyzes the development of reverse mortgages in China,and tells that in order to put forward to promote the development of housing reverse mortgages.Firstly,the government needs to actively play a leading role,to give credit support to mortgage loans,to formulate supporting policies in line with housing reverse mortgage loans,to carry out targeted and diversified propaganda,to update the national awareness of the pension in promoting the housing reverse mortgage.Secondly,the government should actively develop the financial industry,in-depth reform and promote innovation,promote the early realization of mixed operation and develop asset securitization rapidly.Thirdly,the government should reduce the risk of longevity and risk assessment of real estate value through the introduction of new technology like "Internet +" and dynamic real estate assessment methods.At the same time,according to the basic national conditions and housing reverse mortgages development in China,this thesis designed three kinds of the business models that provide a reference for housing reverse mortgage loan business model design.