![“That’s why I’m having a baby”… Proportion of newlyweds owning a home has decreased for 3 consecutive years [정의진의 경제현미경] By Hankyung](https://i-invdn-com.investing.com/news/LYNXNPEB6U08A_L.jpg "“That’s why I’m having a baby”… Proportion of newlyweds owning a home has decreased for 3 consecutive years [정의진의 경제현미경] By Hankyung")
© Reuters. “That’s why I’m having a baby”… Proportion of newlyweds owning a home has decreased for 3 consecutive years [정의진의 경제현미경]
A view of apartments in Gangnam, Seoul last October. Photo = Yonhap News Last year, the percentage of newlyweds who owned a home fell to its lowest level since 2015, when they began compiling relevant statistics. In particular, since 2018, when house prices started to rise in earnest, they have declined for three consecutive years. Since homeless married couples are 10 percentage points less likely to have children than home-owning married couples, it is pointed out that skyrocketing real estate prices caused by the Moon Jae-in administration have exacerbated the problem of extremely high birth rates. bass.
According to the Newlyweds Statistics 2021 data released by the National Bureau of Statistics on the 12th, the proportion of newlyweds owning a home among newlyweds last year was 42.0%, down 0.1 percentage points from the previous year. ‘last year. The home ownership share of newlyweds, which began counting in 2015, rose for three consecutive years from 42.6% in 2015 to 43.8% in 2018. However, it subsequently fell to 42.9 % in 2019 and 42.1% in 2020, before falling to 42.0% last year for three years. Provided by Office of National Statistics Newlyweds, as counted by the Office of National Statistics, refer to couples whose marriage has been registered for less than five years as of November 1 of each year. Spouses are included in the spouses statistics only if the couple maintains a legally married relationship and at least one of them resides in Korea.
The percentage of newlyweds owning a home increased the longer they got married. Only 30.7% of first-time spouses owned homes in the first year, but 35.7% in the second year, 41.1% in the third year, 47.2% in the fourth year, and 51.9% in the fifth year. About half of newlyweds own their own home after five years of marriage. Owning or not owning a home has a direct impact on planning for a child, according to the Office of National Statistics. As of 1 November last year, among newlyweds owning a home, the share of couples with children was 59.9%, 9.8% more than homeless spouses (50.1%). In terms of the number of children, the average number of children of first-time home-owning married couples was 0.73, 0.13 more than homeless spouses (0.60).
The number of children also correlated with whether spouses had dual incomes. Among newlyweds, the share of dual-income couples with children is 49.6%, 10.9 percentage points lower than that of single-income couples (60.5%). The average number of children for first marriages with dual incomes was 0.59, 0.15 fewer than for single-income couples (0.74).
The share of dual-income couples among first-married couples increased by 2.9 percentage points over the previous year to 54.9%. The percentage of working couples is constantly increasing. The percentage of couples with children among all first-time spouses provided by the National Statistics Office was 54.2% last year, down 1.3 percentage points from the previous year. The average number of children of newlyweds was 0.66, a decrease of 0.02 over the same period.
Last year, the average annual income (employee and business income) of newlyweds was 64 million won. It is 4.11 million won (6.9%) higher than 59.89 million won in 2020. However, their loans were found to be growing at a faster rate than their income. The average loan balance for newlyweds increased by 20.42 million won (15.4 percent) from 132.58 million won in 2020 to 153 million won last year. Provided by the National Statistics Office, the total number of newlyweds, including new marriages, was 1,101,455 last year, a decrease of 82,295 couples (7.0%) from 1,183,750 couples in 2020, a year ago. The share of newlyweds was 79.1%, down 0.1 percentage points from the previous year. The percentage of newly married couples was 20.6%.
Reporter Chung Eui-jin [email protected]
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