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KMID : 1023720170720040191
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Journal of Welfare for the Aged
2017 Volume.72 No. 4 p.191 ~ p.215
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The Effect of Housing cost burden on Elderly Depression Trajectory：Comparing the Difference according to the Preparation for Financial Security in Later Life
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Shin Soo-Min
Jeong Kyu-Hyoung
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Abstract
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The purpose of this study is to investigate how housing costs affect and burden the older generation which is a trajectory of depression in Korea and to examine whether there are differences between the groups according to whether they are prepared for financial security or not in later life. The study is based on three panel data of 4th, 5th and 6th Korean Retirement and Income Study Panel taken from 2011, 2013, and 2015. This study analyzed Latent Growth Modeling through 973 senior people over 65 and above in 2011. First of all, according to the unconditional model for PIR (Price to Income Ratio) and depression, the 2011 group who did not prepare for retirement life constantly went through housing cost burdens. There was no sign of any major increase or decrease of depression in the group who prepared for retirement from 2011 to 2015. However, the group who did not prepare for retirement life experienced an increase in depression level. Secondly, the difference of PIR and depression trajectories of elderly people depending on their preparedness of living expenses showed that the group who were not prepared for retirement life experienced much higher increase of depression in comparison to the group who were prepared for retirement. Lastly, according to the multigroup latent growth modeling, there was a decrease in depression when the PIR was lower in the group that did not prepare for senior living as there was no significant change in the group that prepared for senior life. Based on these consequences of the study, we propose social welfare alternatives to reduce the housing cost burdens according to seniors' preparation level and to prevent depression in elderly.
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KEYWORD
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Housing Cost Burden in old age, Depression, Preparation for Retirement Life, Financial Security in Later Life, Latent Growth Modeling
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