4 ms·

Tokyo is actually a place where you see this in practice, from what I read. Prices are fairly stable due to lots of new construction.

by davidw 5y ago

mikem170 5y ago
This is true, zoning in Japan [0] makes a lot of sense. Instead of single family homes they allow triplexes, even a percentage of space dedicated to a low-impact business (like hair stylist, etc). They have setback rules so that you can't put second/third floor up against your neighbors property line blocking the sun all day. They dedicate nearby spaces for commercial and hi-rise buildings, making it possible to live near where you work. And there is dedicated space for factories and other industrial buildings. Single-use single family zoning is being eliminated in some areas of the U.S., allowing accessory dwelling units to be built, etc. Even California just passed a low changed R1 to R3 for all cities in the state (pending court cases, I assume). [0] https://www.youtube.com/watch?v=wfm2xCKOCNk https://www.youtube.com/watch?v=wfm2xCKOCNk
ggm 5y ago
There is a cultural aspect as well. I am told Japanese home owners dislike buying secondhand, if they have the option to knockdown and rebuild.
- bobthepanda 5y ago
  this is partially because of the earthquake codes. a major earthquake tends to happen once every generation, and building codes tend to get updated after them. If you buy a house not compliant with the current rules it is more likely to kill you; most damage in the 1995 Hanshin earthquake, for example, occurred to buildings predating the 1981 building code.
leoedin 5y ago
As well as a general culture which is very willing to build new buildings, the population of Japan has been pretty stable, even falling a bit, since the early 90s. I wonder if that hasn't had a really impact on the fact they've more-or-less escaped the rampant house price inflation seen in other countries. Since 1990, Japan's population has risen by 2%, the UK has grown 17%, the US by 32%, Canada by 37%. That growth is bound to put a significant pressure on property prices.
- davidw 5y ago
  That's true for Japan as a whole, but Tokyo has grown since 2010.

Tokyo is actually a place where you see this in practice, from what I read. Prices are fairly stable due to lots of new construction.

by davidw 5y ago

Tokyo is actually a place where you see this in practice, from what I read. Prices are fairly stable due to lots of new construction.

mikem170 5y ago

This is true, zoning in Japan [0] makes a lot of sense. Instead of single family homes they allow triplexes, even a percentage of space dedicated to a low-impact business (like hair stylist, etc). They have setback rules so that you can't put second/third floor up against your neighbors property line blocking the sun all day. They dedicate nearby spaces for commercial and hi-rise buildings, making it possible to live near where you work. And there is dedicated space for factories and other industrial buildings. Single-use single family zoning is being eliminated in some areas of the U.S., allowing accessory dwelling units to be built, etc. Even California just passed a low changed R1 to R3 for all cities in the state (pending court cases, I assume). [0] https://www.youtube.com/watch?v=wfm2xCKOCNk https://www.youtube.com/watch?v=wfm2xCKOCNk

ggm 5y ago

There is a cultural aspect as well. I am told Japanese home owners dislike buying secondhand, if they have the option to knockdown and rebuild.

bobthepanda 5y ago
this is partially because of the earthquake codes. a major earthquake tends to happen once every generation, and building codes tend to get updated after them. If you buy a house not compliant with the current rules it is more likely to kill you; most damage in the 1995 Hanshin earthquake, for example, occurred to buildings predating the 1981 building code.

leoedin 5y ago

As well as a general culture which is very willing to build new buildings, the population of Japan has been pretty stable, even falling a bit, since the early 90s. I wonder if that hasn't had a really impact on the fact they've more-or-less escaped the rampant house price inflation seen in other countries. Since 1990, Japan's population has risen by 2%, the UK has grown 17%, the US by 32%, Canada by 37%. That growth is bound to put a significant pressure on property prices.

davidw 5y ago
That's true for Japan as a whole, but Tokyo has grown since 2010.