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Abstract This study analyzes political polarization among the South Korean elite by examining 17 years' worth of subcommittee meeting minutes from the South Korean National Assembly's standing committees. Its analysis [...]

Do home ownership and house prices impact the shaping of individual perceptions on inequality and belief in meritocracy? We argue that home ownership and rising asset prices increase the salience of an individual's own relative economic position, which in turn facilitates belief in meritocracy. We expect that, when house prices increase, homeowners are likely to strengthen their belief in meritocracy and defend their position by rationalizing that income distribution in society is fair and that economic success and failure are primarily determined by individual efforts. Our analysis of both a Korean panel survey and a cross-national survey finds strong and robust evidence of the asset price effect. Our findings suggest that the housing price effect on economic ideology is a general pattern, which implies that there are social and political consequences to the asset price effect. [ABSTRACT FROM AUTHOR]

The current study explores the relationship between housing wealth and political outcomes at the regional level in South Korea, providing insights that extend beyond the scope of previous research, which has primarily concentrated on individual or macro levels. It focuses specifically on district-level dynamics within the unique context of South Korea to uncover the underlying mechanisms of housing politics. The findings indicate a clear trend: as the average price of apartments – a key indicator of housing wealth – rises in a district, there is an increased tendency for residents to support candidates from the conservative party. Furthermore, the data-driven analysis highlights the significance of housing wealth amidst various regional characteristic variables, particularly in its capacity to distinguish the target regions. By employing comprehensive data and a multi-dimensional analytical approach, this study unravels the intricate relationship between housing wealth and political outcomes within a regional context. In doing so, it greatly enhances our understanding of the impact of housing wealth on political outcomes, bridging the gap between individual behaviours and national trends, and underscoring the pivotal role of housing wealth in shaping regional political dynamics. [ABSTRACT FROM AUTHOR]