Kim Eun-hye says, "Under the Lee administration, jeonse has vanished and a monthly-rent hell has unfolded"

According to Financial News, Kim Eun-hye, a lawmaker of the People Power Party who serves as senior deputy floor leader for policy, on the 20th took aim at President Lee Jae-myung’s remarks on owners of multiple homes. Comparing him to Mao Zedong, Vladimir Lenin and Joseph Stalin, she argued, "In South Korea today as well, owners of multiple homes are being targeted, and jeonse has disappeared while a monthly-rent hell is unfolding."
Posting on a social networking service (SNS) the same day, Kim wrote, "Owners of multiple homes are good prey for politicians," adding, "There are fewer of them than tenants without homes or single-home owners, and it is easy to condemn them by putting them in the frame of being the main culprits who drove up housing prices through speculation."
Kim went on, "Historically, those who branded owners of multiple homes as ‘the devil’ were not found only in South Korea," stressing, "In totalitarian states from Mao Zedong to Lenin and Joseph Stalin, governments without exception targeted asset owners to cover up their policy failures." She was criticizing President Lee Jae-myung’s earlier comment about owners of multiple homes and those who defend them, when he said, "They say money is the devil; surely you haven’t let the devil rob you of even the slightest conscience."
She continued, "As properties are pulled from the jeonse and wolse markets to be converted to sales, the number of jeonse listings for apartments in Seoul has plunged to around 19,000, down 32% from a year ago and falling below 20,000 for the first time since 2021. It is the lowest level in five years," explaining, "Tenants who have nowhere to go are forced either to shoulder jeonse prices that have jumped by hundreds of millions of won or to be pushed out to other regions."
Kim criticized, "Even so, this administration is only looking for scapegoats to dodge criticism over real estate polarization," and added, "The Lee Jae-myung administration is cutting back policy loans for young people, turning its back on private redevelopment and reconstruction projects that supply 80% of housing, and instead going all in on public-sector favors that are woefully small in scale."
She then argued, "Blocking private reconstruction, which is the right answer on the supply side, while saying supply is insufficient is no different from telling a patient, ‘Because you are in pain, don’t get an injection,’" and asked, "Is the Lee Jae-myung administration’s role model a country that is a ‘paradise for public rentals and hell for the private sector’?"

haeram@fnnews.com Lee Haeram Reporter