Reported 12 months ago
On June 30, 2024, various ministries were busy trying to fix the new youth housing loan policy, indicating a rushed implementation. The positive signals of steady increases in the real estate and stock markets reflect a prosperous national economy, benefiting industry development and wealth accumulation. However, the rushed introduction of the 'Youth Housing Loan' policy during the previous presidential election led to a surge in property prices, sparking speculation, fraudulent loans, and other issues. The government's generous housing loan subsidies, aimed at helping young people purchase homes, have inadvertently facilitated property speculation instead. As a result, various government agencies are now working to rectify the policy's flaws and prevent further misuse of the housing loans, as the risks of the policy being a double-edged sword become apparent. Similar policy failures in the UK serve as a cautionary example, where the 'Help-to-Buy' scheme ultimately harmed middle-income families.
Source: YAHOO