Korean Landlords' Tax Hike Threat: Netizens Say They'll Just Raise Rent, Not Sell

This post is trending because rising housing costs, especially rent, are a constant source of frustration in Korea. It taps into the public's cynicism about landlords' reactions to tax policies and the perceived disconnect between different generations' understanding of the housing market.

Seoul's housing market is a pressure cooker, and a recent online post perfectly captures the boiling frustration. With monthly rent, or 'wolse,' skyrocketing – often rising twice as fast as income – many Koreans are struggling to keep a roof over their heads. The situation is so dire that even 'jeonse,' the traditional lump-sum deposit system, is being overshadowed by the rapid disappearance and cost surge of wolse properties.

Amidst this crisis, a hypothetical scenario circulated online, sparking a wave of cynical reactions. It started with a supposed landlord's threat: 'If they raise property taxes, I'll just sell all my buildings at a bargain price!' This was met with an optimistic, albeit naive, response: 'Great! Then Seoul's real estate will crash, and I can finally buy my own place!'

But netizens quickly shut down the fantasy with a dose of harsh reality: 'If taxes go up, landlords won't sell; they'll just hike up the wolse even more.' The post concludes with a sarcastic jab at the perceived naivety of some, suggesting 'that generation's intelligence doesn't change even after 10 or 20 years, lmaooo.' It's a stark reminder of the deep-seated frustration and generational divide over Korea's seemingly intractable housing problem.