Broadcast date: Friday, March 17, 2023, 10 PM The real estate market in 2022 was a series of gloomy news. People who invested their life savings in the dream of 'owning a home' suffered from the sudden plummet in housing prices, and even the subscription market and construction companies collapsed helplessly. In some communities, those who said that housing prices should fall further were called 'crashers', and those who said that they should rise again were called 'surgers', and they even ostracized and clashed with each other. And this year, some are waiting for a chance to rebound after the decline slowed down for the first time in 7 months. Will the 'real estate myth of invincibility' continue like this, or is this the beginning of a bubble burst? Will it rise or fall? Along with the questions that everyone is curious about, we will delve into the real estate market in Korea. ■ A 'good day' for two young men, the house poor and the homeless. 28-year-old Jang Hyo-geun. He moved between goshiwon and semi-basement rooms for the past eight years, and finally succeeded in purchasing his own home in 2021. The loan amount for the 350 million won house was 270 million won, but the house price soared by over 100 million won more than the selling price in just a few months. However, Hyo-geun could not avoid the sudden real estate crash. In order to pay off the rising loan interest, he worked as a cook during the day and did side jobs that paid him for running errands whenever he had time. He had no money to buy clothes, so he had to wear only two T-shirts and spend the winter without turning on the heater. Even with a house, his austerity life did not end. Hyo-geun decorated one room exactly like his old semi-basement room. He looks at it every day before work to recall the difficult times and live harder. Despite enduring the painful times, he says he has never regretted buying a house. This is because he believes that if he has a house, good days will surely come someday. Last February, Mr. Kim Sang-woo (pseudonym), a non-homeowner, appeared on the 108th episode of Current Affairs Direct, titled “Presidential Election and Real Estate – Is Supply Expansion Any Problem?” I visited him again after a year, when he had been living austere life in a semi-basement goshiwon in order to buy a house. Mr. Sang-woo, who has saved 8 million won in the meantime, said that he is still waiting for the right time to buy a house. He complained that the housing prices that have skyrocketed over the past few years are still a high wall for the non-homeowners even after the market crash. “If we hold on like this, good days will come again. I think that day will definitely come. Just like it always has.” - From an interview with Mr. Jang Hyo-geun (28) - “It’s almost a life goal. I think that the food I eat at home is the best, and I want to have my own house, sleep there, and eat there. I want to do that.” - From an interview with Mr. Kim Sang-woo (pseudonym) - ■ Even Gangnam is shaking? The opportunity is right now! The steep interest rate hikes that continued throughout last year led to an unprecedented downturn in jeonse prices, even during the financial crisis. So-called “reverse jeonse and reverse monthly rent,” where landlords return the difference to tenants in order to postpone the expiration of a contract, have even emerged. Real estate experts have expressed concerns that a decline in jeonse prices could accelerate and sharply increase the decline in housing prices. The situation was no different for the prime apartments in Gangnam, which were considered “invincible” in housing prices. Mr. Park Dong-cheol’s (pseudonym) apartment remained vacant for a year, as he was unable to find tenants or buyers. In the meantime, the sale price plummeted by 300 million won. The national average transaction price of this apartment, which is considered everyone’s dream, fell by 1 billion won in one year, from 2.38 billion won to 1.38 billion won. As apartment prices in Gangnam, which are considered a barometer of housing price fluctuations, fluctuated, the real estate markets in nearby areas became even more fearful. Meanwhile, there are more people who are trying to buy, saying that the current bear market is actually the right time. According to the Court Registration Information Plaza, the number of applications for real estate auctions nationwide has nearly doubled from 1,477 to 2,824 this time last year. 《Sisa Direct》 met people who are struggling to seize opportunities by going to courts and auction sites and heard about their investment philosophies. “In Korea, real estate is Chanel. An 88-pyeong apartment in Samseong-dong costs 10 billion won. It is true that real estate is a consumer good, but people’s perception that it is a tool for increasing assets will not change until I die.” - Park Hee-chul (Fighting Falcon) / Real Estate Auction Expert - ■ Who will be saved first? Dundun Public Hous