People Power Party Says Lee’s Real Estate Posts on Social Media Are Throwing Market into Confusion

[Financial News] The People Power Party urged President Lee Jae-myung on the 19th, saying, "Real estate policy must be implemented not with slogans, but on the basis of principles and consistency," and adding, "Instead of throwing the market into confusion with emotional and impulsive social media (SNS) posts, he should focus on designing responsible policies grounded in a cool-headed understanding of the market economy."
Floor leader Song Eon-seok stated at the Supreme Council meeting held at the National Assembly that day, "President Lee Jae-myung’s social media remarks over the Lunar New Year holiday have shaken the predictability of real estate policy and disrupted the market."
Song went on, "President Lee Jae-myung warned that holding multiple homes would lead to losses, but when controversy grew, he tried to backtrack by claiming he had never forced anyone to sell," and added, "How is that any different from taking away someone’s desk and canceling their access card, then insisting it is not a dismissal? When contradictory policy signals are repeated, the market is bound to fall into turmoil."
He continued, "President Lee Jae-myung once called multi-home owners ‘devils’ and blamed them for rising housing prices, but now he says the real social evil is not multi-home owners but politicians," and added, "If he truly recognizes that politics is the problem, then as the person at the very apex of political power, the president himself should engage in reflection and self-examination, listen to the voices of the people, and practice proper politics—politics for the people."
As an alternative for real estate policy, he argued, "We must expand sufficient and realistic supply that meets demand, and establish a rational tax and financial system," and suggested, "Such policies must be pursued in a predictable and consistent manner so that the market can trust them."
He also said, "We strongly urge the president to stop dividing people by labeling natural market phenomena as moral or immoral, and even splitting multi-home owners into ‘good’ and ‘bad’ groups, and instead to focus on genuine real estate policy."
Supreme Council member Shin Dong-wook noted, "During the Roh Moo-hyun administration, apartment prices in Seoul rose by an average of 39.7%, and under the Moon Jae-in administration they went up by 62%." He added, "By contrast, during the Lee Myung-bak administration they fell by 3.16%, under the Park Geun-hye administration they rose only 10%, and under the Yoon Suk Yeol administration they have fallen by 4.9%."
He then asked, "Which administration was truly competent when it came to real estate issues?" and added, "At least on real estate, Democratic Party governments have stood on the side of the haves. They may be able to deceive the public for a moment with light talk, but the truth does not change."

haeram@fnnews.com Lee Hae-ram Reporter