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3. Income and Expenditures of Households Repaying Housing Loans

(i) Overview

  The ratio of the households repaying housing loans in the workers' households was 41.8% (39.8% in 1999). An analysis of these households by age group of the household heads shows that the ratio rose with the advance of the age group of the household heads up to the 40s. In households headed by those of the 50 and over age group, rate of owned houses generally stayed in the order of 80% while the ratio of households repaying housing loans declined as the age group of the household heads advanced.
  As compared to the 1997 survey, the ratio of the households repaying housing loans was higher in all age groups except for a decline shown in the households headed by those in their 50s and 60s. (Figure. IV-3)

Figure IV-3: Rate of Owned Houses and Ratio of Households Repaying Housing Loans by Age Group of Household Heads (Working Households)

Figure IV-3: Rate of Owned Houses and Ratio of Households Repaying Housing Loans by Age Group of Household Heads (Working Households)

(ii) Yearly Income

  Yearly income of the workers' households was 8.22 million yen in the households repaying housing loans and 7.76 million yen in the households having no housing loans. This shows that yearly income in the former was 6.0% higher than that in the latter. When compared to the 1999 survey, yearly income in the households having no housing loans posted a decrease of 8.8% on a nominal basis and that in the households repaying housing loans also decreased by 9.1% on a nominal basis. (Table IV-4)

Table IV-4: Comparison of Income Structure by Age Group of Household Heads and by Status of Housing Loans (Households Housing Loans) (Workers' Households)

Table IV-4: Comparison of Income Structure by Age Group of Household Heads and by Status of Housing Loans (Households Housing Loans) (Workers' Households)

(iii) Living Expenditures

  When compared with the 1999 survey, disposable income in the households repaying housing loans was 3.3% lower on a real basis, showing smaller decline as compared to a drop of 7.3% in the households having no housing loans.    Moreover, living expenditures in the households repaying housing loans was 2.6% less than that of the 1999 survey, indicating greater decline as compared to a fall of 1.2% in the households having no housing loans. Average propensity to consume was 74.0% in the households repaying housing loans and 84.0% in the households having no housing loans. When compared to the 1999 survey, it was 0.6 percentage point higher in the households repaying housing loans and 5.3 percentage points higher in the households having no housing loans, indicating that average propensity to consume was higher in the households having no housing loans.
  Average monthly housing loan repayment per household in the households repaying housing loans was 71,081 yen, up 10.0% over the 1999 survey. The housing loan repayment ratio (the ratio of housing loan repayment to disposable income) was 15.2%, a 2.3 percentage points rise from the 1999 level. Moreover, ratio of net increase of current assets to disposable income held in the households repaying housing loans was 8.1%, which was 1.4 percentage points lower as compared to the 1999 survey. On the other hand, that was 11.2% in the households having no housing loans, showing a decline of 4.8 percentage point from the 1999 level. (Table IV-5)

Table IV-5: Average Monthly Income and Living Expenditures by Status of Housing Loans (Households Repaying Housing Loans)

Table IV-5: Average Monthly Income and Living Expenditures by Status of Housing Loans (Households Repaying Housing Loans)

(iv) Housing Loan Repayment Ratio by Age Group of Household Head

  Monthly housing loan repayment per household was in the order of 60,000 - 70,000 yen thousand in all age groups and there was no significant difference between age groups. Specifically, housing loan repayment ratio was 17.4% of the total expenditures in the households headed by those under 30, 18.6% in the households headed by those in their 30s, 15.3% in the households headed by those in their 40s, 12.9% in the households headed by those in their 50s, 14.9% in the households headed by those in their 60s and 16.4% in the households headed by those at age 70 and over. The ratio was higher in the households headed by those under 30 and those in their 30s as compared to other age groups reflecting lower levels of disposable income.
  When compared with the 1999 survey, the housing loan repayment ratio to the total expenditures was higher in all age groups except for the households headed by those under 30. (Figure IV-4, Table IV-6)

Figure IV-4: Ratio of Housing Loan Repayment by Age Group of Household Heads (Households having no Housing Loans; Workers' Households)

Figure IV-4: Ratio of Housing Loan Repayment by Age Group of Household Heads (Households having no Housing Loans; Workers' Households) 

Table IV-6: Amount and Ratio of Housing Loan Repayment by Age Group of Household Heads (Households repaying Housing Loans; Workers' Households)

Table IV-6: Amount and Ratio of Housing Loan Repayment by Age Group of Household Heads (Households repaying Housing Loans; Workers' Households)

(v) Average Propensity to Consume Including Housing Loan Repayment

  Average propensity to consume in households repaying housing loans was 74.0%, 10.0 percentage points lower than 84.0% in the households without housing loans. If housing loan repayment is considered a sort of house rent, the ratio of living expenditures including housing loan repayment to disposable income (average propensity to consume including housing loan repayment) is 89.2% in the households with housing loans, which is higher as compared to 85.4% in the households without housing loans. Furthermore, average propensity to consume including housing loan repayment rose with increase in the housing loan repayment ratio. In particular, in those households in which the housing loan repayment ratio was 25% or higher, average propensity to consume was 111.6%, indicating that savings were withdrawn in these households. (Table IV-7)

(vi) Households by Housing Loan Repayment Ratio

  Among households repaying housing loans, the households with housing loan repayment ratio at 10 - 15% accounted for the largest part, 9.8% of the households repaying housing loans. When compared with the 1999 survey, while the percentage of those households that had housing loan repayment ratio at less than 5% and 5-10% decreased, that of the households that had the housing loan repayment ratio at 10% or higher rose, revealing the fact that the number of households that had higher housing loan repayment ratio increased. (Table IV-7)

(vii) Outstanding Savings and Liabilities

  Outstanding savings in the households with housing loans was 9.42 million yen, down 7.4% over the 1999 survey. On the other hand, outstanding savings in the households without housing loans posted an increase of 7.0% expanding to 19.16 million yen. The gap in savings between the households with housing loans and those without housing loans widened.
  Moreover, the amount of liabilities in the households with housing loans was 15.93 million yen. There was a difference of 6.51 million yen between savings and liabilities and the excess in liabilities markedly increased as compared to 4.77 million yen in the 1999 survey. (Table IV-7).

Table IV-7: Accounts of Households with Housing Loans by Group of Housing Loan Repayment Ratios

Table IV-7: Accounts of Households with Housing Loans by Group of Housing Loan Repayment Ratios

Go to IV-4. Income and Expenditures of Households of Mother and Children

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