The Korean Economy is going on well like now even later? Look at the history. It will tell you that there was no country keeping its wealth forever. Every country underwent the ups and downs. Korea was one of the poorest countries in the world before.
So far, so many people were victims for the economic growth. And the price of real estate went so high. As far as I am so sure of, some day, the Korean economy will collapse. Especially the bubble of the real estate in Korea will be burst off. The labor force of human has limits. When they think they can not take it any more, they give up. It's human nature. Of course there will be exceptions.
And when the hell is it?
There is a writer in Korean debating site called Agora. He persistently insisted that the apartment will be zero priced. You can read it if you click here. It's all in Korean.
The main focus of his argues is on the apartment, not on the real estate overall. It's kind of a consumable product. And considering many factors, the price of the apartment in Korea is too high. It's the problem.
We can imagine that one day lots of people have to sell their apartments because they cannot hold their apartment with a high price. You can see lots of apartment in Korea everywhere. You will be amazed by that if you see with your own eyes. If they have to make money by selling the apartment in a short time. The result would be catastrophic. Even the price of the real estate will jump down.
Actually the roles of the current government or the rulers is just to keep the pace. In other words, what they have to do is just not to make lots of people sell their houses simultaneously.
If it happens, there will be revolution.
Yes, this can be inferred by anybody. But the difference between the ordinary people like me and the elites or the rulers are the exactness, precision. The main question is 'when?' and 'how much big impact?'.
Yes, the big crash down will come in the end one by one, in some day...
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