People Power Party leader Jang Dong-hyeok again engaged in a social media back-and-forth with President Lee Jae-myung. In response to Lee's remark that "it's a miracle logic" to say that "pressuring multiple-home ownership and rental business will deepen housing insecurity for working people due to a shortage of jeonsei and monthly rentals," Jang called it "a miracle stretch."
On the 22nd, Jang said on Facebook, "That stretch that if multiple-home owners sell their houses, both supply and demand will fall at the same time and the market will stabilize—how is that any different from yelling at a starving person, 'If you don't get fed, your appetite will drop'?"
He went on, "The reason people without homes cannot buy a house is not because multiple-home owners have grabbed them all, but because this administration's lending regulations have tied the hands and feet of people without homes," adding, "Is it fairness, as the president says, to take away working people's housing ladder and hand over listings on the market to cash-rich buyers and foreign capital?"
Jang also said, "In less than a year after the president took office, home prices have surged 8.98%. An 'asset cliff' is being erected, where office workers living only on earned income would have to save for 16 years, drinking only water, to buy a home," adding, "While turning one's own apartment into a 5 billion won lottery ticket, labeling working people who protect old homes in the provinces as social evils and wielding the club called taxes is, in itself, a betrayal of the sovereign people."
He continued, "The public has already caught on to the arrogance and hypocrisy of insisting that one's own lottery apartment is normal while tagging honest, law-abiding working people as a market-disrupting force," adding, "The obstinacy that housing rentals must be handled by the public sector is, in the end, a command-economy declaration to block the formation of the people's assets and keep them under state control. It is gaslighting meant to lock the people into being the government's monthly-rent tenants for life."
The previous day on X (formerly Twitter), President Lee said, "The claim that pressuring multiple-home ownership and the rental business will deepen housing insecurity for working people due to a shortage of jeonsei and monthly rentals is a miracle logic that shields multiple-home ownership and the housing rental business, which are major causes of rising home prices and shortages of jeonsei and monthly rentals," adding, "If multiple-home owners or rental-business operators sell their homes, supply of jeonsei and monthly rentals will decrease, but demand—that is, people without homes seeking jeonsei and monthly rentals—will decrease by that much as well."