On the 5th, President Lee Jae-myung said on X (formerly Twitter), "Even if things are difficult right now, Korea cannot afford to face the 30 years lost after a real estate bomb," and added, "We will definitely keep our promise to escape the real estate speculation republic." He continued, "Curbing real estate speculation and stabilizing real estate prices are national tasks that must be done and are extremely difficult, but they are not impossible to achieve," and said he vowed to accomplish it even if approval ratings plummet. ,,, "From 2022 to 2025, a sharp decline in permits and approvals centered in Seoul led to a significant reduction in housing supply with a time lag, which is the biggest cause of short-term housing price instability," and diagnosed, "The mid- to long-term causes will likely be concentration in the metropolitan area, excessive loans encouraging housing speculation, and unfair tax policies." He continued, "Structural problems that have persisted for decades, like real estate issues, are difficult to improve quickly with just a few short-term measures," and explained, "Except for conservative governments that encourage real estate speculation, each democratic government has tried to curb real estate speculation, but none have achieved the results they wanted," he explained, ,,,"There may be various reasons, but one reason is that the reform measures deemed necessary were pushed through to the end due to resistance and backlash." President Lee added, "Even if it's disappointing, please wait patiently and with some patience," and said, "I would appreciate it if you judge based on the results." The problem is that ,,, reform measures were pushed through through due to resistance and backlash, and that each president had different policies, all ending up as short-term plans!!!!!!
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