In a recent statement, South Korean President Yoon Suk-yeol emphasized the need for the normalization of the housing market as he shared concerns about increasing home prices with the public. He highlighted a significant drop in the housing price outlook index from the Bank of Korea, stating that expectations for abnormal price rises should decrease, particularly in terms of public sentiment towards the housing market. The index saw a notable decline, reaching its lowest level in nearly eleven months, indicating a shift in consumer expectations.

President Yoon pointed to the role of government power in shaping societal norms, suggesting that while authority can distort normalcy, it also has the potential to restore it. He asserted the importance of rejecting personal interests and motives to facilitate this normalization process, positioning the government as a key player with the necessary tools—such as regulation and financial policies—to address inefficiencies in the housing market. He acknowledged public awareness of the abnormality in the housing market and their pressing desire for reform.

Yoon's comments also touched on the broader implications of housing normalization, stating that while ownership of multiple properties remains a choice, the risks associated with market irregularities must be acknowledged. He emphasized the need for a collective effort towards the normalization of the housing sector, drawing parallels between this effort and other market normalizations, asserting that while the process may be challenging, it should not be insurmountable. Ultimately, he called for a commitment not only from the government but also from citizens to achieve a balanced housing market consistent with the principles of public sovereignty.