What question did this study set out to answer?

This research aims to explore how rising household debt affects the housing market and social stratification in South Korea.

Rising Household Debt and Housing Market Dynamics: Lease Deposit Indebtedness and Tenant-based Gap Investment

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Analysis shows rising household debt influences housing investments in the upper and lower class, suggesting potential for increased inequality.

This research aims to explore how rising household debt affects the housing market and social stratification in South Korea.
Analyzed the relationship between household debt and housing market outcomes.
Investigated borrower demographics during low-interest rates in 2020-2021.
Examined the effects of Jeonse loans on housing lease indebtedness and investment dynamics.
Identified a credit expansion in lower-class households without democratization of homeownership.
Upper-class households used rising debt for housing investment and capital gains.
Observed that rising Jeonse prices increased debt burdens for the lower class while benefiting the upper class.

Hoobin Lee (2025) studied this question.

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Analysis shows rising household debt influences housing investments in the upper and lower class, suggesting potential for increased inequality.