Ahn Cheol-soo: "Real Estate Policy Brings Despair to Youth and Low-Income, Forces Pain on Middle Class"

"Don't Force Real Buyers to Suffer While Trying to Catch Speculators"
"If You Want to Make Money, Stay Out of Public Office"
"Capital Gains Tax on Stocks Should Be Deferred Until Real Estate Stabilizes"

[Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] Ahn Cheol-soo, leader of the People’s Party, criticized the Moon Jae-in administration’s real estate policy on the 6th, saying, “The Moon Jae-in regime is too unaware of the circumstances of the average Korean citizens,” and added, “It is imposing despair and deprivation on the youth and common people, and forcing costs and pain on the middle class.”

At the Supreme Council meeting held at the National Assembly that day, Ahn said, “Dismiss the Blue House secretaries and ministers who ignore the president’s orders immediately,” and “Please disclose to the public through a national address how and until when real estate prices will be stabilized.”

He pointed out, “The ‘Not Banpo but Cheongju’ incident by Presidential Chief of Staff Noh Young-min is a representative case showing the hypocritical real estate perception of the core high-ranking officials of this regime,” and asked, “How can the people who see this believe the government’s announcement to control Gangnam housing prices?”

He continued, “Among the Blue House aides, the top 10 whose apartment prices have risen the most increased by 1 billion won each,” and added, “While the youth and common people are stuck because loans are frozen, and elderly people who own only one house without income lose sleep at night, the bellies of high-ranking officials are so full they might burst.”

Ahn emphasized, “If you want to make money, don’t even set foot in public office from the start,” and said, “The regime has two years left, but apartment prices last a lifetime. If a public official has such a rotten mindset, they should resign immediately.”

Ahn stated, “Real estate policies aimed not at the people’s housing stability but at punishing speculative forces cannot succeed,” and explained, “Just as it is unacceptable to have one innocent person even if ten criminals escape, we must not force pain and damage on numerous actual users in the name of catching speculators.”

Regarding financial taxation authorities, Ahn said, “The recent rise in apartment prices is largely due to excessive liquidity in the market. Now is the time to implement policies that attract funds concentrated in real estate to other investment destinations,” and added, “While the principle of ‘tax where there is income’ must be upheld, immediately taxing capital gains on stocks could inadvertently deepen the concentration of market funds in real estate. Capital gains tax on stocks should be deferred at least until real estate prices stabilize.”