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This study examines how the change in house price affects the decision of subscription or termination of reverse mortgage. We analyzes the impact of various changes measured in house prices on subscription of termination of reverse mortgage with the Bayesian VAR model over a 15-year period from 2008 to 2023. The results are as follows. First, the subscription of reverse mortgage depends on past changes in house prices rather than last month's ones in the prices. Second, current changes in house prices are more important for the termination of reverse mortgage than past ones. Overall, different factors regarding variations of house prices have an impact on subscription or termination of reverse mortgage. Therefore, our findings imply that it is necessary to consider past trends in house prices and use them in order to predict the demand for subscription or termination of reverse mortgage. The results also could be basic data in seeking measures to avoid the termination of the reverse mortgage.
Lim et al. (Mon,) studied this question.
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