The 2030 generation is expressing outrage on online communities as they compare apartment prices from ten years ago to current rates.
On August 25, various online forums featured a post titled '2015 Apartment Transaction Statistics (based on 24 pyeong).' The post included a photo showing the average transaction prices for 24 pyeong (approximately 55-60 square meters) apartments in Seoul from 2015. Notably, the prices indicated 680 million won in Gangnam and Seocho districts, 510 million won in Yongsan, and around 420 million won in Mapo, Seongdong, and Gwangjin districts. In contrast, outer districts like Dobong and Nowon had prices around 260 million and 270 million won, respectively, while most areas in Gyeonggi Province, except for Gwacheon (570 million won) and Seongnam (360 million won), were priced between 100 million and 300 million won.
However, the current housing market presents a stark reality. According to KB Real Estate and Real Estate R114, apartment prices in Seoul have surged by approximately 14.7% to 15% since the inauguration of the Lee Jae-myung administration. This has led to a 'triple increase' in rental prices, with jeonse prices rising by 6.77% and monthly rents by 8.99%, placing an immense burden on young people and low-income households. The phenomenon of 'one good house' has intensified due to regulations on multiple homeowners, resulting in a record asset gap between high-end and low-end housing, with a ratio of 13.4 times.
In response, many young netizens expressed feelings of despair regarding the widening asset gap in real estate and criticized the political establishment. Comments in female-dominated communities reflected sentiments like, 'Ten years ago, there was still hope,' and 'Back then, taking out loans to buy a house was frowned upon,' lamenting their missed opportunities to purchase apartments in Seoul.
Some users shared experiences of purchasing apartments in areas like Mapo and Gaepo with parental support, highlighting the growing disparity between those who could afford homes and those who could not. Others voiced regret, saying, 'I should have bought a house back then, even if it meant stretching my finances,' while also criticizing the real estate policies of different administrations.
In male-dominated communities, criticism of real estate policies, including regulations on multiple homeowners and the land transaction permit system, continued. Some users argued that as regulations on multiple homeowners tightened, demand shifted towards high-end properties in Seoul, impacting the rental market as well. Concerns were raised about the increasing gap in housing prices between Seoul and other regions compared to the past.
The majority of netizens expressed that 'up until the early 2010s, the gap between regions was not as severe, but now it is impossible to compare,' indicating that it has become increasingly difficult for young people to secure homes in Seoul solely through earned income, reflecting dissatisfaction with current real estate and tax policies.
Both communities shared a common sentiment of holding political leaders accountable for the trends in housing prices. Some users criticized the real estate policies during the Moon Jae-in administration and extended their grievances to the Lee Jae-myung administration, expressing dissatisfaction with the Democratic Party's overall approach to real estate.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.