Using Housing To Support The Elderly: The Path Of Public Law From Private Goods To Public Good

According to the seventh national census,China has rapidly entered the aging society.The need to care for the elderly and to support the elderly is a crucial requirement of social stability.The Basic pension insurance mainly supports China’s current pension system.Under the current circumstances,the society’s best option is to develop a house-for-pension scheme in China.The house-for-pension scheme refers to the reserve mortgage loan.The house-for-pension program not only increases the quality of the elderly’s life but also helps reduce the pressure of the social pension insurance system.In the meanwhile,it is also an effective financial instrument to revitalize the stock of real estate markets and stimulate capital circulation.However,this program is quite controversial because the cost of positive externality has been undertaken by private sectors.To solve this problem,the first step is to analyze the legal properties of financial products regarding the house-for-pension program and then to clarify the controversial issues.Caring for the elderly definitely will ease the burden on the government,but the cost and risk of positive externality have been fully given to private sectors.Finding a way to mitigate these conflicts will be key in implementing the plan.Turning the housing pension products into public goods and to publicize private laws regarding house-for-pension programs will be the solution.Public goods are non-competitive,non-exclusive,indivisible,public welfareand external economy.However,even housing pension products belong to private goods,there are some public attributes in them,like partial non-exclusive,with the public welfare,and external economy.The publicization of private laws is the prerequisite for turning the housing pension products into public goods.Housing for pension program requires the publicization of private laws to correct the unrestricted freedom of private law.The corrections mainly focus on the institutions which is in the stronger position.When the private reaches the limitation of autonomous management,the Housing for pension program depends on the publicization of private law to provide a redemption.Promotion and restriction for the publicization of private law of housing pensions are essential.Enhancing the charity of its product;elevating its non-exclusiveness,and addressing the insufficient non-competitiveness can effectively promote the publicization of laws of the housing program.At the same time,insisted on setting the boundary for private law provision in the public law of housing for the pension program.In terms of form,when customized mandatory regulations,specifing what cannot be done,not what should be done;focusing on giving direction.Legal regulation should emphasize both procedural justice and substantive justice.The ways to achieve publicization of private laws include public legalization of the subject,restrictions on the ownership of the object,and intervention in the content of transaction from public law.The specific legal regulations are divided into fundamental law and specialized laws.The fundamental law is responsible for the protection of the private attributes in the legal relationship.Besides,fundamental law is the basis and principle for specialized laws.Specialized laws could make particular regulations on housing pension products.The publicization of private laws not only could expand the Civil Law’s provisions on the reserve mortgage loan,but also could publicize the subject of housing pension products and provide detailed regulations on the design of the house-for-pension program.There are a couple of methods to realize the publicization of private laws: publicization of the organizations;drafting restrictions on the contents of contracts including the rights and obligations;assessing the risk of financial uncertainty and guarantying the solvency of financial agencies by limiting their investment and operation behaviors.In the end,we should also strengthen the inclined protection to the elderly,by entitling some particular rights,changing the burden of proof,and developing social assistance system toward the elderly.