real estate is very expensive Can it even be the case that real estate is "very expensive" when almost half of the South Korean population can afford to

real estate is very expensive Can it even be the case that real estate is "very expensive" when almost half of the South Korean population can afford to live around Seoul? Dwelling expenses should be evaluated relative to available household income. I conjecture that Seoul's population on average spends roughly the same fraction of household income as they did 10, 20 and 100 years ago.