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> Tokyo Do you have a source on that? Tokyo is famously known for having largely flat housing prices over the last 20 years[1]. In fact, in Japan, most houses

• jedberg 8y ago
  Exactly, it's flat. The property values didn't fall.
  • bhupy 8y ago
    I’m not sure we have enough information to conclude that property values will never fall with increased density. It could also be that property values never went up to begin with in Tokyo, and remained at market equilibriumm, I.e. prices there reflect simply the cost to produce the unit, plus some profit margin. Things never got out of hand in Tokyo like they have in SF and NYC (though the latter, to a much lesser extent). The value of most commodities stays flat once it reaches that equilibrium (eg. most food, clothing). The argument that housing prices in SF would fall with increased density seems to be another way of making the claim that SF housing is currently experiencing “surge pricing”, so to speak.
    • jedberg 8y ago
      I never said, and don't believe, that housing prices would fall if the city were up zoned (per square foot). I think that prices per unit will fall if you make more units available.