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> Is it better for society to get a better return from housing compared to other investments? IDK, but when Japan was "taking over the world" in the 70's and 8
by HillaryBriss 7y ago
> Is it better for society to get a better return from housing compared to other investments?
IDK, but when Japan was "taking over the world" in the 70's and 80's they didn't have tax laws that subsidized housing mortgages the way the US has. Japan's incentives were centered around manufacturing companies and exports. Did it work out well for Japan? One can make the case. OTOH, Japan's debt to GDP is like 200% now. And manufacturing in China has overshadowed that in Japan.
In the US we've added fifty million people and built a bunch of housing. Landlords did ok. But our trade deficit continues to rise.
What's better?
- klipt 7y ago> And manufacturing in China has overshadowed that in Japan. Not surprising since China is many times bigger geographically and wrt population. It's like 8 Japans glued together.
- benj111 7y agoBut OTOOH Japan doesn't really have a 2nd hand property market, they just start again with a new house, so you could argue that Japans economy is centred around manufacturing, new houses. https://www.theguardian.com/cities/2017/nov/16/japan-reusable-housing-revolution https://www.theguardian.com/cities/2017/nov/16/japan-reusabl...