President Yoon: Is it fair to extend loans to homeowners who persist despite given opportunities?
President Yoon criticized financial benefits for multiple homeowners who resist selling, emphasizing fairness in handling existing loans amid housing market stabilization efforts.
President Yoon Seok-yeol addressed the issue of multiple homeowners in South Korea on the 13th, stating that providing financial benefits to those who acquire homes for investment or speculation contradicts the national goal of stabilizing housing prices. During his comments on social media, he questioned how existing loans for multiple homeowners should be treated when they resist selling their properties despite prior opportunities, highlighting the necessity for finance systems to be just and equitable. He raised concerns over the fairness of offering loan extensions specifically to those who have not complied with prior regulations regarding property holdings.
Currently, the government is enforcing strict limitations on mortgage loans for home acquisitions to curb housing speculation. However, the practice of allowing multiple homeowners to extend loan maturities based on collateral from existing properties has sparked debates regarding fairness compared to first-time homebuyers. Yoon emphasized that individuals who respect rules and social order should not be at a disadvantage compared to those who violate regulations for personal gain, calling the nation to move towards a society that upholds common sense and order.
He urged those still holding onto properties with the hope that circumstances will change, reminding them that South Korea is progressing towards a normalized society where rule-abiding individuals will not suffer losses while rule-breakers will no longer profit. His statements reflect a broader governmental stance on ensuring fairness and equity in the housing market, especially in the context of ongoing challenges around property availability and investment.