4 ms·
Well in Japan it just ends up that housing isn’t generally a good investment so you don’t typically park your money there, and then this is a non-issue. If eve
by presentation 5y ago
Well in Japan it just ends up that housing isn’t generally a good investment so you don’t typically park your money there, and then this is a non-issue.
If everyone expects their housing to appreciate forever it’s no surprise that their appreciated homes will become unaffordable to most people. Housing ought to be a utility not an investment IMO. A Georgist-style land tax would probably do a lot to tip the balance.
- seanmcdirmid 5y agoJapan has a nice combination of “we already did mega property bubble and it didn’t work” and “population is falling.” Additionally, structure depreciate even if built on land that depreciates (almost no one wants to live in a used house). Perhaps that is the future of the rest of the developing world.
- cehrlich 5y agoYeah, this is the central thing that a lot of people don't seem to understand. Housing can either be a good investment that outpaces inflation, or affordable in the long run. Having both is not possible. Setting aside some amount of housing units to remain affordable is not a good long term solution - we have it here, and it's basically ended up as a lottery with a side dish of corruption. In order to really fix this, a lot of property investors will need to lost a lot of money on their investments. Problem is they tend to also be political donors, so not many politicians seem interested in doing this.