People's Power strongly opposes mortgage regulations... ”Speculators' targeting hits actual users directly” = Korea

On the 29th, the South Korean opposition party People Power Party said that the mortgage regulation measures announced by the government as part of real estate measures were "like throwing grenades at places where real buyers gather in an attempt to catch a very small number of speculators."
"It's like throwing a bomb at the government," he said, urging a full review. Park Sung Hoon, floor spokesman for the People Power Party, said in a commentary published on the same day that "the ultra-superficial power of the Lee Jae Myung administration has been in a deep recession."
"Strong loan regulations have denied ordinary people, newlyweds, and young people the dream of owning a home and the opportunity to purchase a home," he said.
Park said, "The average apartment price in Seoul is 1.4 billion won (about 148 million yen)."
"If home equity loans are limited to a maximum of 600 million won (US$600,000) when the national debt exceeds 100 million won (US$600,000), the rest will have to be paid in cash," he said.
He added, "It is not the privileged class or the wealthy who can save hundreds of millions of won (tens of millions of yen) in cash for book publishing celebrations and funerals.
"If the government does not provide a home for the general public, they will not have the opportunity to own a home under the Lee administration," he added. This is in reference to the asset creation of Kim Min-Seok, the government's first prime minister-designate.
"The restrictions, which were put in place to prevent panic buying by home buyers, have cut off options for real buyers and shifted all the burden onto ordinary people," Park said.
"The real estate policy of the Lee administration is a regressive policy and a policy of reverse discrimination against ordinary people and those in their 20s and 30s," he said. Park said, "The public is afraid of 'Moon Jae-in Real Estate Season 2.'
"Now that trust in the government's first real estate policy has been strained since its inception, the government and ruling party should provide a clear explanation to the public, rather than shifting the blame and hiding," he said.
He added, "If the government is truly responsible, it should immediately take effective measures to enable ordinary people to own their own homes and show sincerity for causing chaos in the market.
I want them to remember that a proper apology comes first," he said. Rep. Kim Ki-hyun of the same party also commented on the website, "Are they treating the public as subjects for policy experiments?
"Isn't this a déjà vu of the previous Democratic Party administration, which implemented incompetent and immature real estate policies 28 times, causing housing prices to soar and destroying the dreams of ordinary people and young people to own their own homes?"
"The White House has drawn a line under the strongest loan regulations in history, saying they are not a measure taken by the White House, and has openly stated that the president was not informed of the measures," showing just how confused the White House is.
"This is a shameless attempt to deceive the public by using double-dealing to avoid responsibility for side effects," he said.
"The loan restrictions were implemented in a day and in a hasty manner, causing great confusion," he said, criticizing the administration for "the idea of suppressing real estate prices through loan restrictions being the exact same as that of the Moon administration."
"If we take measures without carefully considering the liquidity and housing supply released into the market, we will end up repeating the failure of the Moon administration's real estate policy," said Joo.
"The implementation should be suspended over the weekend and a full review should be carried out," he said, urging the government to "suspend implementation over the weekend and fully review the matter." He also pointed to Cho Hyun, the candidate for foreign affairs, saying, "Cho's son went to the United States in 2019.
While living there, he was given 1 billion won (approximately 106.3 million yen) in donations, and made 100 million won (approximately 106.3 million yen) in “gap investments” using his own funds of 300 to 400 million won (approximately 31.8 million to 42.5 million yen) over a six-year period.
"We made a profit of more than 500 million won (US$159 million)," he said, adding, "Why are they making us the only ones suffer?"