Apartments densely populate various parts of the city center as seen from Namsan Mountain in Seoul on the 26th. [Yonhap News] The People Power Party strongly reacted on the 6th to President Lee Jae-myung's statement on social media expressing his will for real estate market normalization, saying, "You are framing a decline in some indicators as 'real estate normalization'."

In a Facebook post that day, floor leader Jang Dong-hyuk scoffed, "The president insists on 'real estate normalization' on social media. Are the disappearance of jeonse and millions of won in monthly rent 'normalization'?" He added, "That's right. For Lee Jae-myung, the tears of the common people are 'normal'."

He then directed his remarks at President Lee, saying, "You said you would sell your apartment in Bundang starting in late February, but are you not selling it, or can't you sell it?" He continued, "You're holding onto your own house while tormenting the public. That's right. For Lee Jae-myung, 'whataboutism' is 'normal'."

Recently, Representative Joo Jin-woo publicly disclosed the property registry of President Lee's Bundang apartment on social media, stating, "You boasted about selling your Bundang apartment, but President Lee is still the owner."

Floor leader Jang also wrote, "Let me share my experience of selling. If you lower the price significantly, it sells quickly."

At the end of March, Floor leader Jang sold four of his six properties, including his detached house in Boryeong, Chungnam, an officetel in Yeouido for his parliamentary activities, and his inherited share of an apartment.

Spokesperson Park Seong-hoon also criticized in a statement, "The actual (real estate transaction) 현장 is groaning under the triple burden of a transaction cliff, locked-in listings, and rental market distortion."

Spokesperson Park pointed out, "The situation for tenants is even more serious. In the midst of a lack of listings, they are forced to repeatedly renew their leases under duress, having lost their options, and when those leases end, they are pushed into unaffordable monthly rents."

He continued, "The current market is not one where expectations have been dashed, but where the hope for survival has been dashed." He added, "The reality of expensive monthly rents reaching around 3 million won even in the northern regions of Seoul is a symbolic scene that shows the ladder of housing for the common people is effectively collapsing."

Furthermore, he emphasized, "What President Lee needs now is not self-absorbed messages, but a confrontation with reality." He stressed, "What the public is experiencing now is not the 'end of the real estate invincibility myth,' but the 'end of the hope for housing'."

Spokesperson Jo Yong-seul also issued a statement arguing, "The 'political rhetoric and incitement' repeated under the name of stabilization over the past year or so is essentially a deception of the public."

Earlier that day, President Lee shared an article on X (formerly Twitter) stating that about half of real estate experts and licensed real estate agents predicted a drop in housing prices, and wrote, "Real estate invincibility? That myth is gone. Just like the rectification of illegal facilities in valleys and the healthy recovery of the stock market, everything in Korea is returning to normal."