South Korean President Faces Widening Housing Crisis

South Korea’s housing affordability crisis has reached a critical point threatening the country’s social stability. The South Korean president now faces a serious challenge in controlling the uncontrollable escalation of property prices, a problem that increasingly leaves millions of young generations outside the real estate market.

Seoul Apartment Price Surge Continues to Face Upward Pressure

Seoul’s housing market is experiencing a highly challenging period with apartment prices rising for 52 consecutive weeks. This phenomenon has occurred despite the government implementing various control mechanisms, including stricter lending regulations. Data from multiple sources indicate that these market intervention efforts have yet to produce significant results in curbing the rapid rise of property prices in South Korea’s economic hub.

The South Korean president is now offering property owners a “last chance” to sell before the government significantly increases property taxes. The government has warned that further interventions will be carried out “by all means” to dampen speculation that has hindered the country’s demographic development.

Threats to Social Structure and Employment of the Generation

Soaring housing costs are forcing thousands of young families to delay or cancel marriage and childbirth plans. This situation creates a demographic dilemma that threatens South Korea’s social structure in the long term. The president has emphasized that this issue is not just about the property economy but about the nation’s future.

Government Policies Still Face Public Acceptance Barriers

The latest Gallup Korea survey reveals that public trust in housing policies is at a concerning level. Only 26% of respondents support the government’s approach, while 40% explicitly express dissatisfaction. Market perceptions also show ongoing pessimism, with nearly half of respondents projecting that housing prices will continue to rise in the coming years, while only 19% are confident they will see prices decline.

The challenges faced by the South Korean president in addressing the housing crisis have become a central issue affecting public approval ratings. The failure to demonstrate tangible progress in controlling the property market continues to undermine government credibility in the eyes of the public.