Oh Se-Hoon on President Lee's Remarks on 'Housing Price Crash': "Still Out of Touch with Reality"
6 Articles
6 Articles
(Seoul = Yonhap News) Reporter Kim Jun-tae = On the 31st, Seoul Mayor Oh Se-hoon, regarding President Lee Jae-myung's mention of a 'housing price crash' the previous day, stated that he does not properly understand the reality...
President Lee Jae-myung announced on the 30th, “I have instructed that a system be prepared to purchase a large number of homes below a certain standard for public housing holdings, in preparation for a potential housing price crash caused by early mass supply, suppression of speculative demand, and a surge in loan delinquencies and foreclosures due to high interest rates.” On this day, President Lee [mentioned] X (formerly
President Lee Jae-myung ordered the purchase of public housing and the early supply of housing to prepare for a housing price crash caused by high interest rates and loan delinquencies. He emphasized his stance to stabilize the real estate market by simultaneously pursuing tax system reforms to eradicate speculation and policies to relocate to provincial areas to alleviate the concentration of power in the Seoul metropolitan area.
Seoul Mayor Oh Se-hoon strongly criticized President Lee Jae-myung's remark that he is "preparing for a housing price crash."
South Korean President Lee Jae-myung has instructed that preparations be made for the possibility of a sharp drop in housing prices during the process of expanding housing supply and curbing speculation. The plan involves establishing a system where the South Korean government purchases a large number of houses below a certain standard and holds them as public housing. On the 30th, President Lee stated on his X (formerly Twitter) account, "The g…
President Lee Jae-myung stated on the 30th, “We will eradicate ruinous real estate speculation by any means necessary,” adding, “The early, mass supply of housing in the Seoul metropolitan area is a win-win policy that will definitely be implemented.” He also revealed that a system is being prepared to purchase housing in bulk for public housing holdings in the event of a housing price crash. Speaking to X on the same day, President Lee said, “W…
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