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우리에게는 생소한 ‘주택의 금융화’ 논의, 어떻게 이해하고 활용할까?

How do we understand and apply the unfamiliar ‘financialization of housing’ discussion in Korean context?

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초록

최근 세계 주택학계의 주요 화두 중의 하나는 ‘주택의 금융화’(financialization of housing)다. 2008년 세계 금융위기를 전후하여 학계에 등장한 이 논의는 2015년경부터는 주택연구에서 주류적 담론의 하나가 되게 된다. 최근 주택의 금융화 논의는 ①주택에 대한 위험대출, 가계부채 문제에서부터 ②주택의 개념과 자본순환에 대한 논의, ③민간임대 증가와 다주택자 문제, ④금융화의 대안 및 실천 과제 논의 등으로 범위를 넓혀가고 있다. 이 연구 노트는 세계 주택학계의 금융화 논의를 소개하면서, 우리나라 맥락에서 이를 어떻게 이해하고 활용할 것인가를 고민했다. 우리나라는 주택금융에 대한 논의는 활발한 반면, 보다 거시적이고 구조적인 논의라고 할 수 있는 주택의 금융화 논의는 매우 드문 편이다. 따라서 우리나라 주택금융에 대한 심층적인 분석과 함께 자산격차와 불평등의 관계, 자산기반 복지 논의 등에 대한 연구를 제안한다.

Abstract

One of the major topics in the world housing academia recently is ‘financialization of housing’. This discussion, which appeared in academia before and after the 2008 global financial crisis, has become one of the mainstream discourses in housing research from around 2015. The recent discussion on financialization of housing has expanded its scope from the issue of risk loans and household debt to the discussion on the concept of housing and capital circulation, the increase of private rents and the problem of multi-homeowners, and the alternative and practical tasks of financialization. This paper introduces the discussion of financialization of housing in the global housing academia, and explores how to understand and apply it in the context of Korea. While studies on housing finance are active in Korea, discussions on financialization of housing, which can be said to be more macroscopic and structural, are very rare. Therefore, along with an in-depth analysis of Korea's housing finance, this paper proposes researches on the relationship between asset disparity and inequality, and discussing asset-based welfare.

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