[Edaily Reporter LEE JUNGHYUN ] “If home prices continue to rise, people will have to rush to buy homes, but if prices stabilize, there’s no loss in waiting to buy right now.”

This statement was made by Lee Seong-hoon, President of the Korea Land and Housing Corporation (LH), during the National Assembly’s Land, Infrastructure, and Transport Committee hearing on the 12th. He made these remarks, noting that housing prices could plummet if supply increases in the future.

This can be understood to mean that there is no need to rush into buying a home out of anxiety over rising housing prices. Indeed, since purchasing a home requires a significant financial investment, it is only natural to consider fluctuations in housing prices. However, the fact that the head of a public institution responsible for ensuring housing stability for the public used the term “loss” while forecasting the housing market and explaining home ownership to the public warrants careful consideration. This is because a home is not merely an investment product bought and sold to realize capital gains.

President Lee’s remarks came during a question-and-answer session regarding the existing argument that loan regulations for first-time homebuyers should be tightened. When People Power Party lawmakers Kim Mi-ae and Kim Eun-hye asked how young people and newlyweds should go about buying a home and sought alternatives, he emphasized the possibility of falling home prices due to increased supply and rising interest rates. In effect, he answered a question about alternatives for homeownership with a forecast of home prices.

The circumstances of prospective homebuyers are not simple enough to be explained solely in terms of “profit and loss.” For newlyweds, a home is a space to build a new family. Families raising children need a stable living environment. There are also renters who must worry about deposit increases or moving every time their lease expires. For these people, is buying a home simply a choice made to profit from capital gains?

If housing prices fall, postponing a purchase might be a rational choice. Concerns that excessive borrowing could burden household finances are also understandable. However, housing costs continue to accrue even while a purchase is postponed. If jeonse prices rise, additional security deposits must be secured; if living in a monthly-rent property, rent must be paid every month. Even if postponing a home purchase is economically advantageous, it does not resolve the housing insecurity that arises during that process.

It is worth recalling the housing policy philosophy emphasized by President Lee Jae-myung. When announcing his “Basic Housing” pledge, President Lee stated, “A home is not something you buy to make money, but a place where you live to be happy.” His point was that housing should not be viewed solely as a means of asset accumulation but rather as a space where citizens can live with stability.

An environment where people do not feel pressured to rush into buying a home cannot be created solely by the prospect of falling housing prices. It is only possible when there is sufficient housing supply where it is needed, and when those without homes can live stably at an affordable cost. Genuine homebuyers who wish to own a home need appropriate opportunities to purchase, while those who find it difficult to buy a home right now need stable rental housing.

People can wait until housing prices stabilize. However, the problem of where to live in the meantime remains. This is the message that CEO Lee must convey to the public. More important than saying that people won’t lose out if they don’t buy a home is a policy commitment to create a housing environment where people can live without anxiety, even if they don’t own a home.