Taiwan's housing loan program fuels speculation, opposition claims

Taiwan's ruling party chairman, Huang Kuo-chang, has sharply criticized the government's "Youth Housing Loan 3.0" program, asserting that it has fueled property speculation and driven up housing prices. Speaking at a policy forum on housing justice, Huang stated that prices have risen 11.5% in the six months since the program's inception. He called on President Lai Ching-te to apologize for policies that he claims have failed to help young people and instead exacerbated their financial burdens.

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The problem is housing prices, not housing loans.

Former party chairman Ko Wen-je echoed these sentiments, directly calling the loan program "stupid." He argued that the fundamental problem is the exorbitant cost of housing itself, not the availability of loans. "The problem is housing prices, not housing loans," Ko stated, warning that easier access to credit will only increase the financial strain on young people. He shared a personal anecdote, revealing that he and his wife, both doctors, will be paying off their mortgage until they are nearly 60, underscoring the severity of the housing price issue.

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The new youth housing policy not only caused housing prices to soar over the past few years, but it also did not subsidize the young people who need help. Instead, it subsidized housing prices, causing speculation chaos, making young people's mortgage burdens heavier.

The discussion occurred during a policy forum organized by the Taiwan People's Party, coinciding with the third anniversary of a housing justice rally. The event aimed to gather input from civil groups and academics on new housing policies. Huang highlighted that his party had previously proposed "targeted subsidies" rather than broad housing price support, a point he indicated would be further discussed at the forum.

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We paid off our mortgage until we were almost 60 years old.