South Korea finance minister loses home as housing policy comes back to haunt

SEOUL (Reuters) – South Korea’s finance minister, the architect of rules aimed at protecting tenants and slowing deposit increases, has himself been forced to look for a new home as landlords react to the rules by quickly replacing tenants so they can bump up deposits.

South Korea’s finance minister Hong Nam-ki presides over a meeting at the government complex in Seoul, South Korea, October 16, 2020. Picture taken on October 16, 2020. Yonhap via REUTERS

Hong Nam-ki is also faced with broadening his search as the average deposit where he lives 20 minutes from parliament has soared by a third since his housing rules took effect in July, with the irony of his predicament setting the internet alight.

“Worse comes to worst, he can camp by the Presidential Blue House, right?,” one netizen asked on a real estate forum.

Seoul apartment prices have risen more than 50% since the left-leaning

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Who wins and who loses with California property tax measure Proposition 19

A file photo shows homes for sale in Menifee in Riverside County.
Homes for sale in Menifee in Riverside County. (Irfan Khan / Los Angeles Times)

One of the most complicated measures on California’s ballot this November is Proposition 19, which gives new property tax breaks to older homeowners, increases property taxes for those inheriting their parents’ properties and tacks on some tax relief for those affected by wildfires.

The measure is the product of more than two years of work by the California Assn. of Realtors to give a larger tax incentive to homeowners 55 and older to move into new homes. The Realtors also were behind Proposition 5, a failed 2018 initiative that would have done the same thing. But Proposition 19 adds many other elements — notably a tax increase for the heirs of some homeowners — in an effort to make it more fiscally sound and palatable to voters.

Here’s a breakdown of how Proposition 19 works, including

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CNY bar loses license after second coronavirus violation, now for sale

Central Square, N.Y. — David’s Hideaway, a bar and grill on Route 11 near the Brewerton Speedway, has been cited for the second time this year for violating the state’s coronavirus restrictions.

This time, the State Liquor Authority suspended its license. David’s Hideaway, at 68 Route 11, had previously been cited (but not suspended) on July 24.

Now, owner David Buono has put it up for sale.

After the most recent SLA inspection, on Oct. 2, David’s Hideaway posted this message on its Facebook page: “As a result of the COVID-19 restrictions, we are having a hard time getting customers to comply. We do not wish to lose our license over just a few people who still fail to comply with the simplest of rules. To all of our regular customers who continuously supported us throughout this pandemic, we thank you very much and look forward to seeing you again

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