The study looked at the real estate market in Korea and how it goes through cycles of growth and decline. They found that these cycles last around 3-4 years of growth and 8-9 years of decline. The researchers also discovered that real estate policies in the past were short-sighted and depended too much on the current cycle. They suggest that having fixed rules in place could help stabilize real estate prices better than before. This means that having long-term policies that don't change with the market could be a good idea.