Immersion and decline into the real estate economy

If it cannot escape from a conservative society, Korea, like Japan, has a risk of a long-term recession. The biggest problem is the rapid progression of an aging society, but the problem is that earned income and manufacturing-oriented economies have been distorted into financial income and real estate-oriented economies.

 

In the past, during the conservative government in Korea, large-scale construction irregularities caused confusion, but civil engineering construction irregularities broke out again this time. This is why both supply and demand and investment have focused on real estate. People who realize that they cannot lead a normal life with earned income focus on real estate as much as they can.

 

Citizens do not purchase consumer goods such as automobiles, clothing, and groceries, and do not live in various fields such as manufacturing or self-employed businesses, do not ride a car, do not wear clothes, do not eat restaurant food, and are immersed in real estate. The competitiveness of the capitalist economy, which does not value current consumption and wants to take the upper hand of others while promising future consumption, also contributed. The real estate economy is activated even as an investment method to overcome inflation(inflation hedge).

 

As seen in China's Hengda crisis and Korea's Daejang-dong incident, moral hazard is a problem because the public's attention to the real estate economy is likely to cause a big problem, and the state's finances (national taxes) may be involved in the timing of pre-development and post-problems. Eventually, even if corruption is committed, it will be resolved with national taxes, and the government plans to develop real estate under the pretext of revitalizing the economy.

 

The distortion of a capitalist society that values competition with others, far from the sharing economy, becomes a reality with the real estate economy. Since Japan and Korea are conservative societies, if someone talks about a sharing economy, they are evaluated as leftists. In the case of China, it was the result of a strong government promoting undesirable parts.

 

The money raised in real estate demand is diverted from demand in other fields. It would not be a good phenomenon as a whole for workers who are not treated by society to save hard and buy their own house in hopes that one day they will live comfortably. Such an atmosphere gives us a psychological burden that our society is difficult to live in. And it seems to show a vicious cycle that creates an aging society by not having children.