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● **”Room Sharing Revival – Affordability Drives Gen Z Back to Boarding Houses”**

Youth’s Cost of Living Concerns, Analysis of the Resurgence of Boarding Houses and Economic Realities

The Golden Age of Boarding Houses in the 1990s

In the 1990s, boarding houses were places where college students from out of town could affordably solve their lodging and food needs in Seoul.
Boarding houses provided breakfast and dinner.
There was a reason why it reduced the economic burden and made life easier.
It is memorable enough to be remembered as the drama ‘Reply 1994’.

Transition to Studio Apartments and Changes in the 2000s

From the 2000s, the demand for boarding houses decreased as studio apartments and officetels appeared.
New facilities, security, and privacy protection were strengths.
The transition to studio apartments was natural because utility rates were low at the time.
However, the problems of building aging and supply shortages began to emerge slowly.

Recent Rise in Studio Apartment Prices and Cost of Living Burden

Recently, the economic burden has increased due to rising food prices and utility bills.
The average monthly rent in Seoul is about 790,000 won, but including maintenance fees and utility bills, it is about 900,000 to 950,000 won.
Even though the median income of 30-year-old workers is about 3.2 million won, the burden of rent and living expenses was high.
As a result, changes in consumption patterns are required to reduce costs.

Impact of Job Insecurity and the Youth Job Market

As the job market becomes more difficult and opportunities decrease, young people’s anxiety increases.
The lack of university dormitory supply further concentrates demand for studio apartments.
Young people reduce consumption and find ways to cut costs due to economic uncertainty.
This situation is intertwined with the unstable outlook for the global economy and the real estate market.

Economic Reinterpretation of the Resurgence of Boarding Houses

Boarding houses are making a comeback due to the increased rent and cost of living burden.
Boarding houses can reduce the economic burden by providing meals and accommodation together.
In a time when investment strategies have become difficult, it has become an effective option to save and reduce consumption.
Currently, in the midst of global economic uncertainty and real estate market instability, boarding houses are being re-examined in various aspects such as cost reduction and youth employment support.

Summary

Boarding houses, which were an essential choice for college students in the 1990s, disappeared for a while after the transition to studio apartments,
Recently, they are making a comeback due to economic difficulties such as food costs, rent, utility bills, and job insecurity.
Reducing the cost of living for young people and amidst stable economic prospects and instability in the real estate market,
A phenomenon is emerging in which consumption reduction is chosen as an investment strategy.
Major keywords such as the global economy, economic outlook, investment strategy, youth employment, and the real estate market are applied.

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