People Power Party lawmaker Yoo Eui-dong said Friday that the government's real estate policy amounted to "tying up loans across the entire country just to cool home prices in Seoul."
Yoo, who chairs the National Assembly's Land, Infrastructure and Transport Committee, made the remarks on MBC Radio. He said he was concerned that the president was viewing the situation through a Seoul-centric lens rather than considering conditions nationwide. "Every region has its own distinct characteristics," he said.
Yoo also raised concerns about the government's supply announcements, noting that a plan to build about 60,000 homes unveiled in January had yet to show meaningful progress. "If the government keeps announcing numbers — reportedly another 50,000 units on top of that — without actually delivering, public trust in its policies will only fall further," he said.
He warned that the housing situation could deteriorate significantly. "People will think supply is even more scarce, demand is being suppressed, and yet the conditions driving demand are only getting stronger — so the real estate problem could head in a much more difficult direction," he said. He added that any upcoming announcement should include only measures that are genuinely actionable and achievable.
Yoo acknowledged that emphasizing the importance of supply was the right direction, but noted an apparent shift in the government's messaging. "Until not long ago, I recall the president speaking as though curbing demand was the top priority," he said.
He urged the president to take a more measured approach. "Rather than getting too worked up and reacting to every twist and turn, I think it would be better to stay calm — even if that means taking more time and facing criticism for not having answers yet — and put together a comprehensive set of measures to announce all at once," he said.
mp1256@heraldcorp.com
