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flag Seoul's housing prices soar to 13 times the median income, making homeownership increasingly unattainable.

flag South Korea's Ministry of Land, Infrastructure, and Transport reports that Seoul's housing prices are 13 times higher than the median household income, requiring families to save for 13 years to afford a home. flag This high price-to-income ratio has led to a decline in homeownership and is influenced by population growth, limited land, and speculative investments. flag Despite government efforts to boost housing supply and affordability, the measures have yet to significantly impact the crisis.

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