进入21世纪,我国的经济水平以及人民的物质生活水平都有了很大的提高 80年代我国计划生育政策的实施导致人口出生率急速下降,之后的几十年中医疗 水平的提高以及人民物质生活极大丰富,使得我国人口平均寿命的延长,人口老 龄化得趋势加速但是,与之对应得是我国养老金缺口大,社会保障体系发展滞 后,所以养老方式的创新变成我们不可忽视的问题发达国家在养老方面有着成 功的例子,我们不妨可以借鉴来,住房反向抵押贷款就是其中一种行之有效的新 型金融产品所谓住房反向抵押贷款是指老年人以拥有产权的住房抵押给银行或 其它金融机构,从中领取借款消费,同时老年人仍然拥有住房的居住权并且在 去世后以身后的房产偿还贷款这种方式的现金流流向与传统的住房抵押贷款相 反,看似好像是把住房抵押贷款反过来使用,如同金融机构用分期付款的方式从 借款人手中买房,所以在美国最先被称为/反向抵押贷款[.]本课题运用了理论分 析和演绎推理相结合的方法,分析反向抵押贷款的内涵和原理并在此基础上, 进行大量深入研究及相关资料分析反向抵押贷款在我国城镇实施既是必要的又是 可行的住房反向抵押贷款是涉及到房地产经济学!社会保障学!金融保险!制 度经济学等学科的理论以及思想方法,将金融!保险!投资等不同金融工具相联 接并有机融汇住房反向抵押贷款作为纽带把这些相关学科理论重新组合与融汇, 形成了新的金融保险产品,实现金融保险工具创新,这一创新金融工具又为我国 老龄化问题提供一条崭新的思路所以,住房反向提押贷款的研究成果具有较重 要的理论价值!应用价值和现实意义[2] 关键词:反向抵押贷款;可行性;养老西安建筑科技大学硕士报告 TheFeasibilityStudyofhouscingrcverse mortgageinChina.su比an SPecialty:ManagementSeieneeandEngineering Graduate:M伯119Ting Adviser:ProfessorLiQian ABSTRACT Intothe21steentury,China,5eeonomielevelaswellasthePeoPle,5material livingstandardshavegreatlyimProved.China,5familyPlanningPoliey,thedeelinein birthrateandlifeexPeetaneyinereases,aeeeleratingtheagingofthePoPulationtrend. However,China,5Pensiongap,andthesoeialseeuritysystemfaeessevereehallenges. InnovationofaPensionweeannotignoretheProblem.FromdeveloPedeountriesin regardtothe effeetivenew suecessofinitiativesPension,housingreversemortgageseanbean financialProduets.Housingreversemortgage15aloanavailableto seniors,and15usedtoreleasethehomeequityintheProPertyasonelumPsumor multiPlePayments.Thehomeowner,5obligationtorePaytheloan15deferreduntilthe o似erdies,thehome15sold,ortheo似erleaves(e.g.,intoagedcare).Theflowof eashflowbeeauseofitstraditionalmortgageInstead,liketheuseofhomemortgages, intum,asfinaneialinstitutions,Withinstallmentsfromthehandsoftheborrowerto buyahouse,50intheUnitedStateswasfirst知似as0reversemortgage.0The subjeetusesthemethodsoftheoretiealanalysisandeombinationofdeduetive reasoning.Onthisbasis,agreatdealofresearehandstatisticalinformationindePth analysisofreversemortgagesinthellnPlementationofChina,5urbanization15notonly neeessaryandfeasible.Somebodythinksthatthereversemortgageinrelationtothe systemtheoryandwayofthinkingtherealestateeeonomy,soeialseeurity,finaneeand insuranee,andeeonomiesdiseiPlines,Whieh15re一mixthesetheorieswiththelinkof reversemortgages.Reversemortgageloanmakethefinaneial,insuranee,investment西安建筑科技大学硕士报告 andotherfinaneialinstrumenislinkedandorganieallyintegratedtobeanewfinaneial andinsuranceProducts,achievingFinaneeandinsurancetoolsinnovation,Providinga newwayofouraging.TheresultoftheresearchhasthemoreimPortantapPlieation valueandPraetiealsignificanee. words:Reversemortgage:Feasibility;Pension西安建筑科技大学硕士报告 目录 1绪论............./.,/./....0.0,/......../.00..,000二0../.0.1 1.1选题背景.........................................................................................................1 1.2选题的意义.............,.................................................................................2 1.3研究现状.........................................................................................................3 1.3.1国外研究现状.........................................................................................3 1.3.2国内研究现状...........................................,.......................................5 1.4主要研究内容.................................................................................................6 2住房反向抵押贷款的概述.../0/,/.............#..#/,7 2.1住房反向抵押贷款的内涵.............................................................................7 2.2住房反向抵押贷款的效应.............................................................................7 3国外发展住房反向抵押贷款的经验.//二0.0..0000000/0/0.00./.00.0/0//00二//二9 3.1住房反向抵押贷款在各国的发展历程..................................................,9 3.1.1美国...........................................,...............................................,.9 3.1.2加拿大...................................................................,.........................n 3.1.3新加坡.................,...........................................................................12 3.2国外发展住房反向抵押贷款的借鉴之处...................................................12 3.2.1住房反向抵押贷款在各国发展的一般规律.......................................12 3.2.2住房反向抵押贷款的各国特色...............,.....................................14 4发展住房反向抵押贷款的必要性.0.0二0.00.0/0000/0.00///0000./0///0..0/,.17 4.1中国老龄化人口日趋严峻.............!..................................................,.,17 4.2养老意识不足...............................................................................................18 4.3养老保障金不足...........................................................................................19 4.4社会保障体系不健全....................................#20 5发展城镇住房反向抵押贷款的可行性.//..........0.............0...0/0.21 5.1反向抵押贷款的理论支持...........................................................................21 5.2房地产业与金融业的关系日渐紧密...........................................................22西安建筑科技大学硕士报告 竺巴巴巴三旦旦旦旦竺旦竺竺竺竺竺竺竺旦旦旦旦旦旦 5.2.1房地产业的发展需要金融业的支持..,......................................,23 5.2.2金融业的发展需要在房地产业扩展业务..........................,...........24 5.3金融机构有充足的资金...............................................................,.........25 5.4金融混业经营渐行渐近..............................................................................25 5.4.1政策面对金融业混业经营的推进........................................................26 5.4.2机构混业合作现状................................................................................26 5.5相关法规的不断健全..............,..............................................................29 5.6住房商品化大幅提高...................................................................................29 5.7地价!房价在未来的增值性.................................................,...............29 5.7.1城市化进程加快...........,................................,...,.................30 5.7.2我国家庭结构变化使需求上升............................................................32 5.8房地产二级市场日趋活跃.................,二,................................................犯 6住房反向抵押贷款的其他相关问题./0.0.0..,/../.....0./...0./..,/34 6.1住房反向抵押贷款的资金问题...................................................................34 6.2住房反向抵押贷款适用人群问题...............................................................35 7总结,//.,//二/,0../二/....0/...././/.0........../...一/../,///.,./37 致谢.....0//....0./0..,//0/二/0..,.00,/.0,0...0.0.,/./0/./0,00.,39