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Since my teenage years, I have been earning money while moving from one rented room to another. In my twenties, gazing at the dazzling night view of Busan, I often wondered, When will one of those countless lights become my home? During my preparation for the bar exam, I vowed that once I became a lawyer, I would surely purchase my own house and opened a savings account for that purpose. After waiting for a decade, I finally won a lottery for my first apartment, where I happily lived with my children for eight years. Later, I entered politics and moved to a different district, selling the apartment I had purchased for the first time and relocating to another neighborhood in Haeundae. Despite fluctuations in housing prices, I am grateful just to live in an area I desire.

Every citizen hopes to secure a home in a place they want to live. This is not a mere desire but a fundamental aspect of life. If the state were to crush this profoundly natural dream overnight, the public would feel a profound sense of disappointment. Policies must be predictable, and the dreams of diligent citizens should not be shaken by institutional changes.

A week after the 10·15 real estate measures were announced, the market response has been cold. While the government calls for housing price stabilization, what the public feels is a sense of betrayal rather than policy effectiveness. Reports of high-ranking officials involved in designing real estate policies profiting from reconstruction investments while holding onto leases have fueled public outrage, leading to accusations of talking differently than acting. Amidst this, the first vice-minister of the Ministry of Land, Infrastructure, and Transport stated, You can buy a house when prices drop, which shattered the hopes of citizens looking to secure homes through loans. His attitude, appearing to already possess a home while telling the public to wait, ignited distrust.

The confusion in the market following the measures is striking hard at genuine buyers. With the Loan-to-Value (LTV) ratio being reduced, citizens who were looking to switch to lower-interest loans now face the daunting prospect of repaying millions in principal all at once. To reduce interest, one must…

The current situation reflects a broader issue within South Korean housing policy that needs to be addressed. The dream of homeownership should not be a distant fantasy but an achievable goal for every citizen. The government must ensure that policies support this dream rather than undermine it.

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