[EDITORIALS]More real estate confusion

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[EDITORIALS]More real estate confusion

The confusion over real estate policy is getting worse. In a meeting on Wednesday, the administration and the governing party decided to increase the supply of large and medium-sized apartments in the Seoul area, according to a member of the Uri Party’s policy board. They also decided to ease restrictions on the reconstruction of apartment buildings.
But within hours, the Blue House was denying that there was any such agreement. “Increasing the supply of large and medium-sized apartments was mentioned only in principle,” an official said. “The basic direction of the policy is to restrain speculation by raising taxes.”
Deputy Prime Minister Han Duk-soo said, “A policy emphasizing supply would give a green light to speculation. The basic principle of our policy is to ease prices down by controlling supply and demand in particular regions.” He also argued that building another satellite city would fuel speculation. How could increasing supply to meet demand fuel speculation?
The nation is tired of comments from the administration and the Uri Party about real estate. They shouldn’t further confuse the people with complex logic. More importantly, the real estate issue is not one to which the government, including the president, should give first priority.
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