Civil society organizations surveyed that during the presidency of President Moon Jae-in, the rate of increase in apartment prices was twice the rate of the governments of the Lee Myung-bak and Park Geun-hye governments.

The Citizens' Federation for Economic Justice (Gyeongsilyeon) held a press conference at the Gyeongsilryang Auditorium in Dongsung-dong, Jongno-gu, Seoul on the 23rd. It has skyrocketed by ten thousand won (52%)."
Based on trends in KB housing prices (provided from December 2008 data) and data released by the Bank of Korea and the National Statistical Office, Kyungshilyeon compared the median value of Seoul apartments in the first and last months of each government's launch.

As a result, the Lee Myung-bak administration (December 2008 to February 2013) fell 15 million won (-3%), and the Park Geun-hye government (February 2013 to March 2017) was 133 million won ( 29%), rising 26% across both regimes.

It was estimated that the unpaid income resulting from changes in apartment prices in Seoul was about 155 trillion won and 493 trillion won, respectively, from the Park Geun-hye government and the Moon Jae-in government.

During the Lee Myung-bak administration, about 35 trillion won decreased.

The median rate of rise in median apartments across the country was 6% during the Lee Myung-bak administration, 27% by the Park Geun-hye government, and 20% by the Moon Jae-in government.
Considering the time it takes to purchase a median-priced Seoul apartment at the minimum wage for each regime, it took 38 years and 37 years for the Lee Myung-bak administration and the Park Geun-hye administration, respectively, at the end of the regime, and 43 years longer than the previous government for the Moon Jae-in government. I noticed this takes.

“The Moon Jae-in government raised the minimum wage the most over the past three years, advocating for income-driven growth, but the time it took to buy an apartment with the minimum wage increased because Seoul's apartment price increased by more than 300 million won.”

In particular, it was analyzed that it was much more difficult for the low-income households to purchase apartments in Seoul than the former government.

Based on the provisional disposable income announced by the National Statistical Office in the fourth quarter of last year, the time it took for the lowest-income quintile household to purchase an apartment in Seoul increased from 31 years at the beginning of the Moon Jae-in government to 72 at the end of last year, 31 years.

In the Lee Myung-bak administration, it has decreased from 48 years at the beginning of the term to 35 years at the end of the term, and the Park Geun-hye government has increased six years from 35 to 41 years.

On the other hand, when the fifth highest-income households were analyzed in the same way, the time it took to purchase an apartment in Seoul was the Lee Myung-bak administration (7 years at the beginning of the term → 6 years at the end of the term), the Park Geun-hye government (6 years → 7 years), and the Moon Jae-in government (8 Year→10 years).

"The main cause of the worsening of the real estate problem is the government policy of the Moon Jae-in," he said. "If we are really willing to return the house price, we must stop the reckless large-scale development policy and provide fundamental measures."

(Photo = Provided by Gyeongseon, Yonhap News)