[Deputy Director's Column] If the Government Wants to Control the New Coronavirus and Housing Prices

[Asia Economy Reporter Yoo In-ho] 'They say you can get infected just by looking at it' 'I saw a confirmed patient wearing a mask getting into a police car.' Recently, social network services (SNS) such as the internet, Google, Facebook, and Twitter have been filled with '~kadeora' rumors related to the novel coronavirus infection (Wuhan pneumonia).

As the novel coronavirus patients spread worldwide and the number of confirmed cases in Korea increased to four, rumors have also been spreading. During the Lunar New Year holiday, a commotion broke out as rumors spread mainly on local mom cafes that a confirmed patient had been wandering around major areas in Gangnam with heavy foot traffic. Many of these rumors have not been verified. These rumors can be seen as stemming from people's anxiety about the new infectious disease.

The problem is that these rumors instill fear in people. Fear refers to an intense and persistent irrational dread of a specific object or situation. Facing the unprecedented situation of the novel coronavirus, the public has been engulfed in excessively irrational fear.

The government also bears significant responsibility for the public's fear of the novel coronavirus. During the Lunar New Year holiday, while numerous rumors were spreading, the government failed to conduct any fact-checking. Meanwhile, the rumors spread as if they were true and grew into fear.

The real estate policy is similar. Since the current government took office, it has introduced more than 20 real estate regulations but has been criticized for only stimulating the market. The market wants an increase in supply, but the government has moved in the opposite direction. The policy only fuels the market's anxiety.

As a result, there are concerns that it will not be easy for the situation to return to normal as the government wishes. A real estate expert said, "The market is already ten steps ahead, but the government is always standing still. It can never beat the market."

Although the outcomes differ, both health and real estate policies are at a point where the government's role is more important than ever because they are closely related to the people's lives and economic activities. It is not too late even now. Instead of stubbornly insisting on what the government wants, it should first look at what the people want. Then, both the novel coronavirus and soaring real estate prices can be controlled.

This content was produced with the assistance of AI translation services.