Choi Bo-yun, Senior Spokesperson for the People Power Party. [Yonhap News]

The People Power Party criticized President Lee Jae-myung on the 1st, stating, "The attitude of swaying public opinion with sensational slogans is highly inappropriate for a president," in response to his expression of determination to stabilize the housing market, asking, "Is it impossible to normalize 'nation-ruining real estate'?"

In a statement, Senior Spokesperson Choi Bo-yun said, "President Lee has concluded that the cause of overheated housing prices is illegal activity and has even issued threatening remarks targeting homeowners."

Senior Spokesperson Choi stated, "President Lee confidently said during the June 27th measures that 'these regulations are just a taste,' but now that housing prices have not stabilized, he is talking about a 'last chance.' Instead of calmly explaining policies, he sows fear first," and argued, "The overheating of housing prices cannot be controlled by pushing housing choices and asset formation into the realm of regulation."

He also pointed out that out of the 28,600 public housing units recently announced by the government as a supply target in Seoul, 19,300 were from sites proposed in the former Moon Jae-in administration's 'August 4th Measures,' asking, "Are you not ashamed to call it a 'measure' when you are simply adopting the failures of the Moon Jae-in administration?"

He continued, "Housing price issues in the Seoul metropolitan area cannot be resolved solely through public supply. The realistic solution is private-led redevelopment and reconstruction through deregulation," and argued, "The idea of blocking the truly necessary solutions and holding on by gathering idle land is no different from telling people to be satisfied with 'real estate rations' determined by the government."

He said, "The public is concerned that this is not the end of owning a home and stabilizing housing prices, but the beginning of excluding actual buyers and a rationed form of housing," and added, "The government should withdraw its arrogant statement, 'No market can overcome the government.' No government can overcome public sentiment."