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I have no idea where you are getting your data. Zoning density restrictions and overuse of historic landmark status create artificial scarcity of land resultin

I have no idea where you are getting your data. Zoning density restrictions and overuse of historic landmark status create artificial scarcity of land resulting in higher housing costs. These both create market failures in housing. In Japan for 20 years there have been federal laws overriding local law that restricts zoning density. The result: in Tokyo they have been building 140,000 housing units per year compared with 20,000 in NYC and 90,000 for all of California. The cost of housing as not increased at all in the past 20 years because these market failures (in this case also called "rent-seeking") in real estate are not allowed to occur in Japan. We need similar laws in the US as Japan.

stakkur 6y ago
Tokyo condo prices approaching 30-year high: https://asia.nikkei.com/Business/Markets/Property/Tokyo-property-prices-near-bubble-era-levels https://asia.nikkei.com/Business/Markets/Property/Tokyo-prop... "The average price of new condos in Tokyo was 71.42 million yen, or about 642,000 dollars, in 2018. This is the highest it's been since 1991" https://www3.nhk.or.jp/nhkworld/en/news/backstories/406/ https://www3.nhk.or.jp/nhkworld/en/news/backstories/406/ Housing is complex.
fomine3 6y ago
In Tokyo, builders made condominiums too much in small spaces and gov don't stop them well, so these made too much crowd in train/station at morning and lack of nursery school, meanwhile non-big cities losing population. Centralization is another problem.