| The number of elderly population will continuously increase in the next 30-40 years in China,according to the predictions of domestic scholars and Department of Economics and Social Affairs of UN.Facing the aging population of "not rich first",China urgently needs a new solution to alleviate the social pension pressure.Reverse mortgage as a new kind financial products,it can relieve the puzzle of pension funds in China.This paper used the method of descriptive statistics to analysis Chinese General Social Survey(CGSS)database with stata12.0,compared the urban elderly residents income before and after introduction of housing reverse mortgage,discovered that this product can significantly improve the conclusion of disposable income of elderly people.Then,by using ELES model to analysis the elderly consumption structure to estimate the influence degree of the product can make to urban elderly consumer spending.Finally,according to the Fan Ziwen(2009)for the business market demand survey data,concluded that the product can provide a large number of social pension funds and endowment beds to reduce the burden of the government in pension spending.By the end of the article,in order to promote the smooth development of reverse mortgage in China,put forward suggestions as: learning from other developed countries' experience in carrying out the reverse mortgage;guiding elderly people to adopt new endowment concept;perfecting the laws and regulatory mechanism;perfecting the tax system and beginning to levy inheritance tax. |
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