Oh Se-hoon: "The Real Estate Market Distrusts the Government, but the Government Is Overconfident"

[Image source=Yonhap News]

[Asia Economy Reporter Kim Hyemin] Seoul Mayor Oh Se-hoon criticized the Moon Jae-in administration's real estate policy on the 27th, saying, "The market distrusts the government, but the government is overconfident in itself."

On the same day, Mayor Oh held a meeting with the People Power Party's Special Committee for Normalizing the Real Estate Market at City Hall and said, "There is a mission to put a brake on the incompetent and autocratic-looking government and ruling party."

He pointed out, "Those who own homes are suffering mentally due to punitive taxes that are hard to bear, and those who do not own homes have lost their dream of owning a house," adding, "Many citizens are angry in various ways."

Mayor Oh said, "In that sense, the expansion of opportunities for the homeless to own homes and the reduction of property taxes on owner-occupied single homes, announced under the leadership of the People Power Party, are good measures that resonate with citizens' perspectives," and added, "We must compete with insightful and heartfelt policies."

Regarding the redevelopment revitalization plan announced the previous day, he said, "I believe the current real estate problem is due to a shortage of supply compared to demand, and there is an awareness that a great disaster has occurred due to redevelopment suppression over the past 10 years," and requested cooperation, saying, "Please work together through legislative amendments."

In response, Special Committee Chair Song Seok-jun said, "When the Moon administration started its term, it loudly declared it would firmly control housing prices, but it brought despair to the youth, pain to the homeless common people, and anger to homeowners," and added, "I hope there will be discussions to resolve the difficulties of the people."

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