If you're the only child, why not buy over your parent's home and they can downgrade to a smaller home so you can start a family?

I guess it’s similar to the housing situation in Hong Kong which tbf has come down somewhat but still ridiculously unaffordable for most of the youths but luckily for some who can rely on their parents for the lump sum deposit

Seoul is like a clean version of Manhattan, Upper West Side

Ahmm, i'm just curious...when you buy a house in south korea, do you have to pay full in cash or is there a pay a certain downpayment then 10yr, 20yr or 30yr plan to pay the balance monthly?

Rent in my town is anywhere between $3,200/month to $5,500/month and that’s just for 1 or 2 bedroom apartments. I’m not sure how much it is to rent a whole house.

I live in NYC. I can afford an house in most neighborhoods. It took a lot of work and sacrifice to get to that point. Making 200k usd a year was extremely difficult. Now, that I can afford a house. I hesitant, to lock myself down for 30 years mortgage.

Hi David, The S Korean government should develop schools and jobs in areas other than Seoul. Such as technical schools and what about factory jobs, such as car assembly jobs. (I don’t know much about jobs in S Korea but i thought there were manufacturing jobs there. Manufacturing companies need all kinds of workers such as, engineers, assembly line workers and office workers.) And the high cost of housing is same everywhere. If you want to live in a nice area with good colleges, good weather and good jobs the housing is high.

great content!!!! 🎉❤

That story about college student fake their marriage sound like it would make really good kdrama story!

If you're not trying to buy a house, it's not that bad 😅. I'd be couch surfing in the US. I think the real worst part of living in Seoul is the treatment from society. Im not materialistic or having kids so idc about owning a house.

It's nuts to me, when I visit Busan, that more people don't want to live there. It's fun, the food is good, and it's is a small enough city that going anywhere is easy.

The thing with the Seoul housing bubble is that it will inevitably reach a breaking point - banks will stop giving loans to people who can't afford them, and when this happens it will almost certainly cause a massive crash, probably a lot worse than just "losing 50% on a 2x profit" situation. Korea needs to force jobs to move away from Seoul to let the pricing settle down organically if they want to avoid this, but who honestly expects that to happen?

Great video, David! Really like how you showed examples of sentiment during the video. It will be interesting to see how the market landscape develops in the future.

After the defeat of the three countries that started World War II, Germany, Italy, and Japan, the defeated Germany was divided into East and West due to the Cold War, which opposed communism and liberal democracy, and Italy was located in the south of Western Europe, so it was too far from the Soviet Union to avoid division, and Japan was supposed to be divided into South and North Korea. Japan was separated by the Soviet Union and the sea, so Korea was divided into geopolitical scapegoats instead of Japan. The Invasion from North Korea of the communist Soviet Union and the communist North Korean leader Kim Il-sung, supported by China, devastated Korea after three years of the Korean War, and the division continues to this day. So, while Japan, a war criminal country in World War II, enjoys peace and prosperity without being divided and does not reflect on history, it is logically natural that Koreans who still suffer from colonialism hate Japan.

what people need to learn is stop caring the F what people say. DO whats best and what right for you and strive to have a happy life instead

Do Korean women only go for flowerboys like BTS? The media I searched is all K-pop idols who look slim and cute. They wouldn't go for someone who grew his facial hair out all month & goes to the gym 4 times/week? (I'm shaving it in December)

I'm in California and real estate is ridiculous. Why can't we just live in a shipping container with running water? Life isn't supposed to be this complicated

These are really great videos David

Great video…both informative and interesting! While the housing issue exists everywhere it’s definitely worse in Seoul according to your stats. It takes generations to change a belief such as home ownership = status. Do you think your generation and those younger will begin this change? I have the utmost faith in young people making the world a better place!

Great content. It’s a similar situation in the UK. My daughter, a highly successful medical consultant was 37 before she could afford to buy a property on her own. Keep the videos coming… For info - I liked everything about your content but didn’t like when your image went from one camera to another.

I do not understand. If the price of something goes up, companies makes more creating a balance. Is there something creating a imbalance?

I'm the STEM Director at a school in Florida, and I'm moving to Korea next year to teach English because the cost of rent here is killing me. The job in Korea includes rent, so I'm going to give it a whirl.

Whoops. You answered my question before I finished the video😳

Wow that’s awful. Is this just Seoul? I’m curious as to why everyone wants to live in Seoul. I mean I get it but are there not places outside of the city that are more reasonable?

China seems worse. CCP ignores families that were ripped off by Evergreen. Family generational savings wiped out. 😩

I still dont know why its looked so down upon if families in Korea live in the rural areas, or outside of Seoul. There are so many beautiful places that must not cost as much and I know everyone will talk about commuting to work, but the time spent waking earlier to get to work would feel so much better if the payment wasn't so high. On top of that, how is the housing crisis going up....when the populace is going down? Having all this status and prestige means nothing when you have to struggle to pay for it and living in the city has always been doomed to consume any and all who try to do so.

Similar affordability crisis in Canada, partly because trust funds started treating homes as investments. Some apartment buildings in Vancouver and other cities sit empty, only gaining value as investments. AirBnB caused problems as well as upper middle class owners bought a second home only to rent it out, then bought a 3rd, and so on. Every home sold to be used as an investment is one less home sold to a family as a residence. Canada also in the 1990s started declaring they wanted to be a "service economy", pushed free trade, and stopped investing in trades. That meant, fewer tradespeople to build houses and apartment buildings. Scarcity made prices rise, inflation coupled with lower salaries benefited the Baby Boomer generation but made home ownership less and less likely for younger people. Governments now are encouraging the construction of more housing but they stopped building public housing (places to live for lower income people, built not for profit) from the 1990s onward. So though more apartments and houses are being built I am sceptical this will actually solve the problem. Times are hard.

Great video. Prices in NY is high as well and Long Island is really bad. I'm now a single mom and am struggling to keep my house.

Great video, David 😊. In Australia, we are pretty much the same. It is hard for us to buy a house as everything has gone up in cost, except for wages. We do have a few options, such as rent to buy, we do have the first home buyers, and currently, the government is looking into a new program called Victorian Homebuyer Fund - the Victorian government will make a share financial contribution to the purchase of a home in exchange for an equity share in the property, which the participant can buy back over time.

You know, I don't feel sorry for Koreans. I say good for them. Their culture and their 하는행동 is so discusting, it's a natural outcome. Btw, I have an empty oficetel in gangnam that I use about 3 weeks a year. I will probably jeonsae it for much more than I paid for it because I don't enjoy going to Korea any more.

David, I’m from Sydney, Australia 🇦🇺 houses here are also expensive 5,000 million to 15,000 million if you wanted a view of the city or water views! We are lucky enough to have a house about 35 minutes by train from city of Sydney but only a 4 bedroom house but 5 years ago I put another 2 bedroom- we call in a granny flat behind my house 🏠 and my daughter and her husband lived there with amount of rent of $110 dollars a week 👍 We have a view of a valley as we live in the bush , called Mount Colah but my house doesn’t cost as much as the richest area! It’s probably only cost approximately $1,500 million to 1,800 million Australian dollars 💵 We invest on property against our home 🏠 and we have 2 more houses being rented about 1 hours and 20 minutes from Sydney 👍❤️ Our children can’t afford to buy their own home so sometimes next we will give the 3 children one of our house so , they can knock it down and develop it or sell it and divide the money between the 3 of them so they all can afford to buy their own house or apartment 👍✅

Similar here in Vancouver Canada. What makes it worse here is that everything is way more expensive and taxes are higher than in Korea.

David, Well done 🏆👍. You should be a TV anchor or work for News investiigative team. You got it all the excellent diction, pleasant voice, looks, and informative, straight to the point infirmation.

David, dear the Housing crisis is well to known in the USA. The idea of buying a house ,unless you are middle class or came to America with money than you can afford buying house. The rest is like Gypsies goes from one rent into another. Studio in a safe neighborhood cost $1000+ excluding heat/ AC , etc. Of course u can go living in ghetto neighborhoods it is gonna cost you cheaper. In general, People in the dire need for low income housing. But, they are full to capacity and some of them are in a really dangerous neighborhoods.

This was well done David. I liked this.

Bye bye!

Good video David

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Eliminate birth control (and child deletion). AUTOMATIC children. It's not like people stopped all intimacy.

In my mid 20s I stopped looking for guys cuz they're all the same. Not even religion made it easier for me to find a good guy, none will be on dating apps and I wouldn't stoop so low as to look on a dating app and they avoid me like the plagues when I'm out. I'm now 40 and I'm focused on getting myself better and I'm happy and not lonely, I've never felt loneliness before.

The problem is worldwide. People everywhere can barely own a car, keep a job, buy groceries, or pay rent. What legacy would a young couple leave behind if they had kids? It's an unsustainable existence. Dating is dead. The horrific economic situations everywhere killed it.

What happens if after 3 dates you don’t like that person? Have an episode topic on that. 😮

I missed yoooooou girls 🩷🩷🩷🩷

Sure this is isolated to South Korea. Its not? Oh. Surely this isnt part of End Time prophesy. It is? Oh. Jesus is the Way, the Truth, and the Light.

Being honest it's about "being asian", not saying it's bad at all, but the culture is so hard on every one that people are just running away from it.

Why get married? Stay single. Sex with many. No child expenses. No wife/husband nagging. Pfffft

I'm sorry, but it seems to me like Koreans are too materialistic to actually have realistic goals in a relationship. Yes, money is a concern when you're dating and wanna have a future with that person. But there are ways to actually date that doesn't require a crap ton of money. Though. I understand that South Korea is way too f****** expensive. Just for a poor person, so y'all need to get your financials together, just like the U.S.A. We gotta burn down this corrupt system so everybody can afford to live.

There is nothing but opinion to support the hypothesis that lack of make sex has anything to do with women. More boys and men just watch porn and masturbate, even after marriage. It’s easier, requires no getting someone to want sex with you. And the figures were self-reported from fewer than 400 men so too few to mean anything about anyone else.

For a man there is no upside to marriage. I can clean and cook myself, and I have no need for the drama. All the solutions Koreans lists, we have in 🇸🇪. Still we have the same problem.