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gsxr750r
Joined: 29 Jan 2007
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Saxiif
Joined: 15 May 2003
Location: Seongnam
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 Posted: Thu Mar 15, 2007 7:01 am Post subject: |
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Well I gotta thank all of the hookers and Chinese factory workers in my area for keeping the rent down  I'm sure I'll do OK... |
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JongnoGuru
Joined: 25 May 2004
Location: peeing on your doorstep
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| Posted: Thu Mar 15, 2007 7:34 am Post subject: |
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Woo hooo!!!
Breaking out the party hats & power tools!
Last edited by JongnoGuru on Thu Mar 15, 2007 9:01 am; edited 1 time in total |
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Ya-ta Boy
Joined: 16 Jan 2003
Location: Established in 1994
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| Posted: Thu Mar 15, 2007 8:44 am Post subject: |
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| Do you really, REALLY think this is earthshaking news to a bunch of people who pay no rent? |
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Bibbitybop
Joined: 22 Feb 2006
Location: Seoul
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| Posted: Thu Mar 15, 2007 5:06 pm Post subject: |
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| Do you really, REALLY think this is earthshaking news to a bunch of people who pay no rent? |
Not earthshaking, but those who get a housing allowance may be interested. |
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hubba bubba
Joined: 24 Oct 2006
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| Posted: Thu Mar 15, 2007 5:11 pm Post subject: |
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Stopped reading the article when I read this:
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| Homes valued over 600 million won according to the government's list are the prime target of what is widely known as the "tax bomb." |
My housing allowance ain't that big.
Still, in the land of three dollar a pound rice, I'm surprised Koreans arent up in arms over this. |
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gsxr750r
Joined: 29 Jan 2007
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| Posted: Thu Mar 15, 2007 5:19 pm Post subject: |
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| The increased housing costs will trickle down. That is my worry. |
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Cheonmunka
Joined: 04 Jun 2004
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| Posted: Thu Mar 15, 2007 6:20 pm Post subject: |
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I don't think it's unfair though. The article specifically stated apartments in Mok-Dong. Seven years ago you would have got a 27 pyong apt for 170 million plus a few taxes. The capital gain enjoyed over seven years has pushed these apartments up to 500 milion plus.
I have a brother with a similar apt bought in those conditions in Do-Dok-Dong. Now, I don't wish him any financial misgiving, but he has enjoyed going from a workaholic frizzy haired alcoholic, into a gentleman with a valuable cash-in the chips investment. He recently chonsied it for more than his purchase price. Yes, more taxes will affect him at the end of the year. And, maybe his tenant. But, my question to you is, how many esl teachers will ever have, or ever had, the opportunity to live in areas reserved for the rich anyway?
More or less, (we) are located into nasty villas or office tels on the outskirts of the posh district, where housing is maintained for use by the service workers.
As for the housing alllowance, 300.000 won should be three-quarters able to support a single person in an office tel. And, office tels aren't taking much capital gain. I know some that are selling for less than their purchase price. |
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