People Power Party leader Jang Dong-hyeok said on Oct. 23 that the government's recently released Oct. 15 real estate measures prove that the real estate policy of the Lee Jae-myung administration and the Democratic Party of Korea is a fraud on the public.
At the supreme council meeting held at the National Assembly on the morning of the same day, Jang said, "The floor leader of the ruling party, who criticized the dream of owning a home by asking whether it makes sense to take on hundreds of millions or tens of billions of won in debt to buy a house, already owned an ultra-high-priced apartment in an ultra-high-priced area," and stated accordingly.
Before the supreme council that day, the People Power Party released a video titled "Democratic Party's wavering real estate policy," which included remarks by First Vice Minister of the Ministry of Land, Infrastructure and Transport Lee Sang-kyung that "if the money piles up, then you can buy (an apartment)," and remarks by Deputy Prime Minister for the Economy Koo Yun-cheol that "we will examine tax fairness for owners of high-priced dwellings."
Jang said, "Vice Minister Lee Sang-kyung, who mocked the public by saying that if home prices fall then you can buy, has in fact amassed great wealth through gap investment," and pointed out, "Lee Chan-jin, governor of the Financial Supervisory Service, who said in his inaugural address that he would break the vicious cycle of rising home prices, holds two ultra-high-priced apartments."
He went on, "Under a forced real estate lockdown, the public has lost places to go, but key figures in the Lee Jae-myung administration are living in a different world," adding, "President Lee Jae-myung says to mobilize every policy tool to rein in speculative demand, but this speculative demand applies only to the public who work hard to secure a home of their own."
Jang also said, "The market is chaos itself right now. There is no supply, but strong regulations are choking off loans and demand, and side effects are already emerging," adding, "Listings for jeonse apartments in Seoul are disappearing in an instant, and as tenants who cannot secure jeonse are being pushed into wolse, wolse prices are soaring."
He continued, "I issue a strong warning on behalf of the public. There will be more 'housing refugees' pushed into poor living conditions," stressing, "Real estate policies born from the distorted view that dismisses real estate as mere speculative demand and from the mistaken belief that regulation and taxes can control the market will surely fail."