The Research Of Residential Reverse Mortgage Market Development Under The Influence Of Bequest Motive

Now the aging problem has become a worldwide problem,the same is true in C hina.In order to solve the aging of the pension problem,our country has carried out a series of housing reverse mortgage loan pilot work,however,a number of pilot work preconceive.What causes the housing reverse mortgage loan market carry out slowly,academic opinions vary.Some scholars put forward from the Angle of reality bequest motive is an important influence factors of housing reverse mortgage loan,but the study of bequest motives stay in the theoretical stage.Bequest motive for the development of housing reverse mortgage loan market influence how much? It take how effective alleviate bequest motive reaction of the housing reverse mortgage loan market? This article will be to in-depth study and discussion.Theoretical basis of housing reverse mortgage loan in this paper,theoretical analysis on the current situation and market,and studies the bequest motive effect on the housing reverse mortgage loan market.Use of family life cycle model,the demand for housing reverse mortgage loan in Guangzhou region will data regression analysis,the analysis found bequest motive largely affect the housing wealth effect of the elderly,to reverse influence on housing reverse mortgage loan market demand.Then by individual life cycle model,the simulation numerical simulation method to explore the changes in the total utility in five kinds of state of the individual,and comparison analysis,thus to explore the specific influence housing bequest motive size,and explore the solutions.The study found that: first,housing bequest motive is one of the important factors affecting housing reverse mortgage loan demand;Second,the demand for loans is strongly influenced by the loan value ratio(LTV);Third,embedded "foreclosure" reverse mortgages as well as improve the elderly pension income can meet their bequest motive;Fourthly,levying inheritance tax can effectively improve the elderly to participate.According to the study,put forward should be step by step guide,step by step;New product development loans;Stable house prices,reduce risk;Pilot levy inheritance tax policy recommendations.