“No Successful President Without Curbing Prices”: Pinpointing Anti-Speculation Measures: Only Tax Hikes”

The Essence of Anti-Speculation Measures: Only Tax Hikes

Only Tax Hikes: Professor Lee Joon‐goo of Seoul National University stresses that the core of anti‐speculation measures lies in reducing speculative returns. He explains that unless expected returns from real estate investments fall, market participants will continue to accumulate property. “There is no direct way to stop speculation itself; the only way to lower returns is through punitive taxes,” he argues, advocating for increased acquisition, holding, and capital gains taxes to cut net profits. 바로가기

Limits of Supply Expansion and Signaling Issues

Professor Lee warns that relying solely on supply expansion requires a very long timeline to stabilize prices. He criticizes President Lee Jae‐myung’s campaign pledge not to use taxes to curb housing prices. Saying it sent the wrong signal—effectively allowing speculation. While supply measures remain a mid‐to‐long‐term strategy, he insists that. Only clear tax hikes can immediately dampen speculative sentiment in the short term.

Comparative Analysis with Previous Administrations

While the Roh and Moon administrations benefited from fortunate price stability early on. The current Lee Jae‐myung government faces signs of price surges immediately upon inauguration. Professor Lee underscores that unlike predecessors who enjoyed stability. This administration must tame price pressures amid economic uncertainty, rate hikes, and political risk. Learning from past policy shortcomings, he recommends fundamentally lowering speculative return expectations through tax hikes. 2023 consumer