Kim Yu-ji, 26, let out a sigh. “It failed,” she said. “I had high hopes.” It was the morning of Aug. 24 in Courtroom 101 of the Seoul Eastern District Court in Songpa District. The property on the block was a low-rise multifamily property commonly called a “villa” in Korean, located in Amsa-dong, Gangdong District, and appraised at 504 million won ($370,000). It drew 11 bidders, more than any other case heard that day. Kim had taken the morning off to sit beside her older brother, Kim Beom-jun, 31, who was making his first bid at a property auction. He had put his chances at about 80 percent. Then the judge announced the result. “The highest bid in this case is 436.07 million won,” he said. Kim Beom-jun had bid 370 million won, falling 66.07 million won short of the winning bid. Neither of them lingered over it. They had to return to work that afternoon. They were not the only young bidders in the room. About 10 people in their 20s and 30s were there, among them Kang Ji-yun, 27, who lost a bid for a villa in Garak-dong. “Homes in Seoul are so expensive that I looked for a way to buy as c
