Demand Analysis And Policy Suggestion Of Housing Reverse Mortgage

The pension is a problem of the people's livelihood,and it is a basic problem concerning the stable and harmonious development of the society.The problem of population aging is a fundamental problem of a country.It involves all aspects.China has made positive efforts to properly solve the problem of population aging.Facing the situation that our country is not rich and old,the government has taken the aging of the population as a long-term strategic task and put forward a series of important strategic deployments,which has promoted all the elderly and old people to the strategic height of "the overall situation of the country and the well-being of the people".The 19 th CPC National Congress put forward that the government should actively face the problem of the aging of the population,promote the development of the aging industry and describe the blueprint for the pension industry.China has already entered an aging society in 1999,now faced with a large population base,the rapid growth of the elderly population and so on,and the aging level is deepening.The social old-age security system also faces problems such as the gradual weakening of the family pension function and the pension fund gap.How to transform the traditional old-age concept and develop new type of old-age products is an urgent problem to be solved.The implementation of housing reverse mortgage can alleviate the old-age contradiction to a certain extent and meet the needs of the elderly.Housing reverse mortgage has become a mature old-age system in foreign countries.However,due to the influence of traditional old-age culture,the research on it started late.With the fluctuation of the price of the real estate market and the lack of national policy guidance,there are also many problems in the practice of housing reverse mortgage.Since 2007,the state has gradually conducted pilot projects in Beijing,Shanghai,Guangzhou,Wuhan and Nanjing for housing reverse mortgage,but failed to get the high recognition of the elderly.Many experts and scholars began to study why housing reverse mortgage in China will face various difficulties and which factors will affect the elderly's participation in the reverse mortgage loan.Based on these,this paper choses the demand analysis and policy recommendations of housing reverse mortgage loan as the research content and take Nanjing city of Jiangsu Province as an example to analyze the necessity of developing the reverse mortgage,including the four aspects: the growing aging population,the gradual weakening of family support functions,inadequate pensions and the poor development of pension institutions.At the same time,this paper analyzes the practice process from " keep changing room" to " housing reverse mortgage ".Secondly,the author collects the factors affecting the elderly people in Nanjing to participate in the housing reverse mortgage through the questionnaire form and use the Ordered Choice Logit Model.The empirical analysis showed that age,education,the attitude of old life and the level of understanding of the housing reverse mortgage loan have positive impact on the willingness to participate housing reverse mortgage and the number of cohabitation,the choice of the way of investment and the intensity of willingness to leave the house to the children have a negative impact on the willingness to participate housing reverse mortgage.Finally,the author puts forward some feasible suggestions,hoping that the government can enhance the propaganda,give full play to the coordination function,promote the cooperation between banks and insurance companies,and improve the reverse mortgage loan policy,so that it can meet the needs of more elderly people.