[One Thousand Characters a Day] Dr. Park Wongap's 'Real Estate Psychology Class' <3>

by Jo Inkyung

Published 23 Feb.2024 06:00(KST)

Updated 23 Feb.2024 07:39(KST)

Editor's NoteThe brutal saga of real estate investment continues to repeat like a vicious cycle, from the older generation suffering as 'house poor' to now the MZ generation, their children, experiencing 'young-chul poor.' Dr. Park Won-gap's ＜Real Estate Psychology Class＞ offers comfort to those who have failed in real estate investment and encourages them to rise again, while also suggesting how to change their approach to real estate. Furthermore, it urges them to practice 'self-forgiveness' and avoid 'playing the victim' to escape the pain of being young-chul poor. Word count: 1005 characters.

[One Thousand Characters a Day] Dr. Park Wongap's 'Real Estate Psychology Class' <3>

A house serves two functions: 'home' and 'house.' If home is a sanctuary for life, house is an investment asset. In spatial terms, home is the concept of a place like one's hometown, while house refers to the building itself. In our lives, we cannot ignore either home or house. How can we achieve happiness in our homes?

Personally, I think it is best to appropriately balance the weight between house and home. During the period of rising housing prices, many people focused on house. This is evident from the era when gap investment, aiming for capital gains, was a trend. Gap investment is 100% house-focused. Now, it is necessary to increase the weight of home a bit more. However, in a capitalist society, especially in big cities, pursuing 100% home is difficult. A complete return to home is unrealistic. Ultimately, balance is key. I think it is appropriate to balance home and house at around 50% each.

Most of you reading this will probably need to increase the weight of home more than now. If you increase the weight of home, you will feel less anxious even if apartment prices fluctuate. Prudent consumption of space through appropriate loans is also necessary. By doing this, you can spend each day peacefully and prevent your life from falling into ruin because of your home. The real estate investment hardships experienced by the 2030 generation will not be repeated. There may be 'house poor,' but there is no such thing as 'home poor.' If you see a house as merely an object to buy and sell, house poor will recur anytime.

Now, to be happy, we need to focus on consuming the environment and value rather than the price of housing. Whether to buy an apartment, a detached house, a reconstruction apartment, or a regular apartment, the criterion for choice should be 'happiness.' The best value gained from a home is that the entire family finds happiness there. In that sense, we must now become true seekers of value. A house is not an end in itself but a means to bring us happiness.

The way to be happy without becoming a slave to price is to rediscover the spatial value of a house.

- Park Won-gap, ＜Real Estate Psychology Class＞, Mate Books, 19,800 KRW