Comments by "kristine Sharp" (@kristinesharp6286) on "We're moving a house because we're rich! (The Return of Superman) | KBS WORLD TV 210321" video.

  1. Why are they renovating a house they don’t own?
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  2.  @thiya4627  something is off with the translation then.
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  3.  @thiya4627  no. They pay a huge sum and in the end get the huge sum back at the end of a year or two while the owner takes the huge sun and invests that money in exchange for them living in the home. He mentioned not wanting to pay monthly rent anymore and saving to buy. I think this is a Jeonse. The problem is the landlord could double the deposit required in two years and then they have to look for another property or come up with twice as much money. So why put money into it?
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  4.  @nurulaziz4832  the landlord invests the deposit and keeps the profits from the investment. Because of this prices can rise 40% in a two year period and if they fall .5% in a quarter the government and people panic thinking the economy is crashing. It’s a stupid system. The renter in a good year can they save up money in theory since they are living there rent free. But on occasion the price hike on the Jeonse is more than can be possibly saved and many are actually paying the bank for the Jeonse lump sun loan anyway. In theory the price of the unit increases so even if the landlord doesn’t make much on the investment their asset jumped in price and can ask for more jeonse when the contract is up or have another renter give a larger deposit. Another system is a large deposit like 30K and monthly rent. Many landlords are going for this system cause they have the guaranteed 800 or whatever a month instead of trying to get 800 a month out of a 300K short term investment. In the 80’s when savings bank interest was 10% or more it made sense. Now builders are sitting on empty units and people either own or rent from a landlord who happens to own many properties including the one they live in themselves. The ability to get a Jeonse loan is easier than a mortgage. You don’t need as large a down payment. 700K apartments are going for. Lunacy.
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