Jang Donghyuk Criticizes, Saying "Stop Threatening People Over Real Estate"
President Lee Responds, Saying "We Are Recovering Unjust Privileges"
President Lee Jaemyung said on the 14th, "I am only pursuing the normalization of the real estate market, and I am not forcing anyone to sell their homes," adding, "What I am trying to do is to recover the unjust privileges granted to real estate investment and speculation, and to make those who enjoyed them bear corresponding burdens."
President Lee made these remarks on the same day via his social networking service (SNS). This was a rebuttal to People Power Party leader Jang Donghyuk, who the previous day had said, "Stop threatening the people over real estate and start listening to their voices."
President Lee reiterated his position that "while owner-occupiers of residential homes should be thoroughly protected, it is fair that those who own investment or speculative homes they do not live in, and multiple-home owners who inflict harm on young people and ordinary citizens without homes, should bear corresponding responsibilities and burdens."
He went on to explain, "The idea is to recover the privileges held by multiple-home owners who seek excessive unearned income beyond legitimate investment returns, and by owners of investment or speculative homes they do not live in, and to normalize the real estate market, as in advanced countries, by strengthening corresponding burdens and responsibilities in areas such as taxation, finance, regulation, and supply."
He added, "In a normalized real estate system, it is perfectly fine to own several homes as collectibles or for display, even while accepting economic losses."
President Lee also pointed out, "Why would I stop people who are willing to willingly shoulder economic burdens for the community while accepting losses?" and added, "Some countries, even though they are not socialist systems, ban ownership of more than a certain number of homes beyond one’s residence, but I do not think we need to go that far."
In addition, President Lee said, "For the record, I own one home," and noted, "I am temporarily not living there because of my job, but it is a residential home that I will return to after retirement." This is seen as a rebuttal to some in the opposition who have criticized him by saying, "Isn’t President Lee also a non-resident single-home owner?"
He continued, "The presidential residence is not my personal property, so I hope you will not treat me as a multiple-home owner," and added, "The recommendation to sell multiple homes is not a call to sell even the home you live in and become homeless, so I will decline criticism from multiple-home owners such as, 'Why don’t you sell your home?' or 'If you sell, I will sell as well.'"
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