Korean Job Discussion Forums

[Otherside]

Excellent post slothrop. Those links posted made for some really interesting reading too.

[motiontodismiss]

Korea's never had a significant decline in property values because the government's spending money it doesn't have to prop it up. Now when they run out of money to prop up property values, Korea's economy's basically cooked. It still hasn't recovered from the 97 currency crisis...I'm afraid the fragile economy won't survive this one.

Property prices HAVE to come down. The only reason we don't have more foreclosures is because the government forced the banks to defer principal payments. Now when the principal comes due, the "house-poor" that took out loans they can barely afford and are struggling to make interest payments are SOL the people who bought multiple apartments that way will be in firesale mode. And once that happens, the death spiral can't be stopped or controlled.

Frankly I'd just rent or only go into jeonse that Seoul Guarantee Insurance is willing to underwrite for a premium that's not ridiculous, and take out insurance for the entirety of the deposit. Then again, if I were to do that, I could just rent.

[slothrop]

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[yodanole]

"Married with Children" should be a mandatory part of the high school curriculum. Certainly a part of the canon.