5 ms·
It's not in conflict; the "fantasyland" of 10M new apartments would house the entire existing population of all boroughs of NYC, and almost that of Tokyo. Mean
by teacup50 11y ago
It's not in conflict; the "fantasyland" of 10M new apartments would house the entire existing population of all boroughs of NYC, and almost that of Tokyo.
Meanwhile, those cities have high density (but nothing as ridiculous as +10M apartment archeologies) and haven't solved the problem.
- simoncion 11y agoIf the stats in WildUtah's comment are to be believed -and his anecdotes mesh with my understanding of how zoning works in JP-, then Tokyo has pretty well solved the "response to housing demand" issue. Housing prices in cities are going to be more expensive than housing prices in the countryside. They shouldn't be so expensive that they exclude families and middle-to-lower-income households.
- teacup50 11y ago"The trend has already hit Sydney, Vancouver and the U.S. Now it’s happening in Japan: busloads of real estate buyers from China coming in, buying up homes and pushing prices higher." "Partly as a result of nascent Chinese buying, Tokyo apartment prices have reached the highest levels since the early 1990s, up 11 percent over two years, according to the Real Estate Economic Institute Co." "It’s not as tolerable to Japanese. Prices in Tokyo have become “seriously unaffordable,” the annual Demographia International Housing Affordability Survey shows." http://www.bloomberg.com/news/articles/2015-07-02/salarymen-sidelined-as-chinese-descend-on-japan-property-market http://www.bloomberg.com/news/articles/2015-07-02/salarymen-...