I doubt that there will be a major, irrecoverable housing crash in South Korea within the lifetime of anyone who grew up believing that their children will supp

I doubt that there will be a major, irrecoverable housing crash in South Korea within the lifetime of anyone who grew up believing that their children will support them later on. In the meantime, retirees who own nothing but an expensive apartment can reverse-mortgage their homes for a stable source of income. The bank, not their children, will inherit the property. Two reasons why I don't think there will be a supply/demand mismatch: 1) Housing doesn't simply stay there once it has been built. Koreans seem very eager to tear down "old" buildings (anything more than 30 years old), so it's going to be fairly easy to control supply if demand goes down. 2) The number of people per household is steeply declining. Even if the population drops to half of the current level, if there are only half as many people per household, the total number of housing units needed will be largely the same. Smaller units will become more popular, though.