Photo : YONHAP News
President Moon Jae-in named ever-rising real estate prices as the heaviest burden throughout his term.
In a joint written-form interview with Yonhap News Agency and seven major global press associations, he admitted that failing to stabilize housing prices was the most painful part of his time in office.
He analyzed that record-low interest rates significantly expanded liquidity, and as a result, money rushed into the real estate market further driving up demand and prices. He added that this was a common phenomenon across the globe amid a prolonged pandemic.
He went on to say that although his administration supplied more housing than any previous government, the supply could not meet the demand as concentration intensified in the capital region amid a sharp increase in single-person households. He voiced regret for not introducing supply expansion policies much earlier.
President Moon, however, vowed to continue efforts to ensure housing stability until the last minute, hoping to mitigate the burden on the next administration.
Pres. Moon: Real Estate, Heaviest Burden of his Term
Source: Matira Matibay
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