Yoo Seung-min: "If Lee Nak-yeon’s mistake is painful... Restore the 'Lease 3 Acts' to their original state"

"Hotel Rooms to Residential Measures? ... Unbelievable"

[Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] Former People Power Party lawmaker Yoo Seung-min on the 17th commented on Lee Nak-yeon, leader of the Democratic Party of Korea, calling the government's real estate policy the "most painful blunder," saying, "If they truly reflected on it, there are many things the government must do to restore the ladder of monthly rent and home ownership," and added, "First, restore the three lease laws passed solely by the Democratic Party last July to their original state."

On the same day, Yoo said on Facebook, "Reexamine the 23 real estate measures that caused this painful blunder from the beginning," and stated, "Abolish all policies that have destroyed the housing market ecosystem. Revive the functions of the private market, which has supplied most rental housing."

Yoo emphasized, "Prepare measures to dramatically increase housing supply in the metropolitan area by easing redevelopment and reconstruction regulations and supplying land," and added, "The government should step in for public rental housing to help those in such difficult economic circumstances that even monthly rent is hard to find."

Yoo demanded, "Instead of only regulating housing finance, expand monthly rent deposit loans and mortgage loans to ordinary citizens," and said, "Dismiss all responsible people in the Blue House and government, and reorganize the Blue House and government teams with people who will implement new policies."

Yoo said, "Aren't these the things that really need to be done? But such measures are nowhere to be seen, and proposing converting hotel rooms into residential use as a measure is outrageous," adding, "Which citizen would see that as a solution? This is why this administration is failing, and there is no hope with this administration."

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