President Lee Jae-myung sent another strong message to the real estate market. He expressed strong confidence in stabilizing housing prices, saying that it is easier to catch ruinous real estate than the KOSPI of 5,000. For multi-homeowners, this was also called the "last chance," and reporter Jo Ji-hyun reports on what it means.
President Lee Jae-myung, who has shown his will to normalize the real estate market, expressed his will to "break through the front" in a stronger tone this time. "I think normalization of abnormal conditions and suppression of real estate speculation will fail," he wrote on social media, adding, "You just have to trust the people and take criticism without calculating votes." He made it clear that he would push ahead with the achievements of the past "breakthrough" such as normalization of illegal valleys and normalization of the stock market.
After mentioning the possibility of reforming the real estate tax system, he shared an article that the housing price in Seoul fell, indicating that it is a message aimed at speculative multi-homeowners, saying, "Catch it when you have a chance." It was also said that normalization of real estate is much easier than achieving 5,000 KOSPI or repairing valleys. This time, only supply measures have been released, but if the real estate market continues to stabilize, it is also interpreted as meaning that other cards, including tax, can be taken out as much as possible. [Minister of Land, Infrastructure and Transport Kim Yoon-duk/Last 29th: "We focused on the volume this time, but we will also discover and announce the improvement of the system in the future."] The power of the people, who have insisted on easing regulations on redevelopment and reconstruction, criticized why they haven't done it yet if it's so easy. [Park Sung-hoon / Senior spokesman for People's Power: "The president, who said he would not control housing prices with taxes, pressured the public by bringing up taxes, and based on an article that showed that housing prices have fallen slightly, it seems as if he has caught up with real estate..."] On the 25th, President Lee has also expressed his intention to fight speculative forces, saying on social media that he will not extend the heavy transfer tax on multiple homeowners. I'm KBS News' Jo Ji-hyun. Video editing: Kim In-soo/Graphic: Kim Jung-hyun Cho Jae-hyun
Although I have strong confidence in real estate policy, I honestly don’t know how things will turn out. Since I don’t really perceive this as a problem, I personally think the right answer is to keep real estate price increases below the inflation rate. But I’m very curious about what solutions the government has in mind.