That’s a win for the average person in Seoul. Housing prices are destroying this generation of young people.
Tanking a bunch of their own investments doesn't sound like a great idea.
Isn’t China one of the most prominent examples of using real estate as investment? There’s even whole ghost towns of apartment buildings that are constructed for this purpose.
Evergrande Group is emblematic of the real estate industry’s trouble there. Property is 15-30% of Chinese GDP and much of it goes towards investment property.
No. Koreans and Chinese both love propping up property as an investment.
Japanese are the ones who don't, as their system is vastly less investment oriented and less expandable.