Deputy Prime Minister Hong Nam-ki changed the expert's 'high valuation of real estate' to 'high' and started a joint public discourse with related organizations to control the real estate market.
Deputy Prime Minister Hong said in a joint statement with the Minister of Land, Infrastructure and Transport on the 28th, "As a result of a recent KDI survey of 100 real estate experts, 94.6% of the respondents said that the current housing price level was overvalued." It is close to or already surpassing the ." He changed the core of the agency's 'recently high rating' to 'the current high'.
Deputy Prime Minister Hong continued, "If the price of the real estate market is lowered, it may appear larger (price decline) than the market forecast." As the basis for 'a possible collapse in the second half', he said, "The fact that early subscriptions are made in the second half, experts say Judging from internal and external circumstances such as perception, interest rate hike possibility and liquidity management possibility, there is room for some adjustments to housing prices,” he said with a specific timing.
Deputy Prime Minister Hong's 'Prediction of Real Estate Collapse' was a 'discourse to the public' by the heads of relevant agencies at the government building. "I hope the market trades take place with the possibility in mind. It's time to make a serious decision rather than a chase purchase due to anxiety."
Deputy Prime Minister Hong pointed out the rise in house prices as 'market sentiment,' and said, "First, we need to look at the operation of excessive psychological factors."
In particular, Deputy Prime Minister Hong said, "I will crack down on the four major real estate market disturbances throughout the year so that they do not set foot on the market." ', and revealed the "year-round crackdown on related institutions," reenacting the way the Chun Doo-hwan regime announced the joint crackdown of related institutions as a public discourse in the establishment of the Public Security Bureau.
At the first press conference held on the 5th, Minister of Land, Infrastructure and Transport Noh Hyung-wook said, “House prices have risen a lot recently, but you may have to worry about a house price drop in two or three years.” We need to be careful about real estate investment through ‘Gap Investment’ and ‘Young-Chul’ of the 30th generation.”
In a joint announcement on the same day, Minister Roh said, "If a large-scale housing supply is made without any setbacks amid the monetary authorities suggesting an interest rate hike and household loan management becoming stricter, the downward stabilization of the housing market may appear larger than the market predicted." He spoke of a fall in house prices.
The Bank of Korea analyzed that “the higher the level of household debt, the greater the asymmetric response of macroeconomic variables to housing price changes” in the issue note on the 20th, 'Analysis of the asymmetry of the impact of housing price fluctuations on real and inflation'. did.
Deputy Prime Minister Hong and Minister Roh are economic officials of the Ministry of Strategy and Finance, the birthplace of the planned economy, and are seen as a return to the command economy of the Park Chung-hee regime.
It seems to be a chaebol and real estate growth system in pursuit of rental seeking.
Minister Roh said, “Supply of 1.8 million households in the metropolitan area and 2.55 million households nationwide” and “Supply of 126,000 households including urban public housing complex projects, public maintenance projects, and residential regeneration innovation districts” and “3rd new city public housing districts. It announced on the same day that the district for 240,000 households will be confirmed by the end of the year,” “Gwacheon government building replacement site, Taereung CC will begin district designation within the year” and “Expand the supply of private housing and 3080 urban centers for pre-subscribed public housing sites,” and announced the removal of obstacles in the government-controlled land project.