Punitive taxes, online posts fail to address shortages destabilizing the housing market
When markets falter, governments often reach first for language. South Koreaβs housing market is now being steered largely by words rather than instruments.
Over one weekend, President Lee Jae Myung transformed social media into a policy arena, warning that real estate speculation was driving the country toward βnational ruin.β The housing market was cast not as a system to be managed, but as a foe to be confronted.
The display was forceful; it was also fraught.
The administrationβs chosen deadline is May 9, when the grace period for punitive capital gains taxes
Continue Reading on The Korea Herald
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.