4 ms·

Lol this has to be the worst headline ever. Tokyo is nowhere affordable unless you have a SV salary while living in Japan. Median Japanese salaries are not high

Lol this has to be the worst headline ever. Tokyo is nowhere affordable unless you have a SV salary while living in Japan. Median Japanese salaries are not high and that is precisely why people commute from very far away to go to work in Tokyo.

fomine3 4y ago
Japanese are fine without SV salary because they don't want big house like SV
- ekianjo 4y ago
  its not that they dont want, they were never given the choice. I can guarantee that very rich Japanese people enjoy big houses.
  - fomine3 4y ago
    It's true that people live smaller house than they want, but the size shouldn't be too big. Metropolis with great public transport or good city with big house and car, pick one. Riches can have big house and a car in the metropolis but it's impossible everyone to have. For who prefer big house, they can live in local cities if they can remote work
    - ekianjo 4y ago
      > For who prefer big house, they can live in local cities if they can remote work If you want to have a family you basically can't live in a small cramped apartment in the city. That's why families with kids move out and people commute like crazy.
bamboozled 4y ago
This comment is real and should not be down voted.
innocenat 4y ago
6m/year is more than median income but is nowhere near SV salary and I know tons of people living in central Tokyo on that salary.
- ekianjo 4y ago
  They live in 10 square meters?
  - innocenat 4y ago
    You can easily get 20-25m² for 60-70k about 20 min from Shibuya. Not sure where you live that you think it's super expensive.
  - trinovantes 4y ago
    https://www.leopalace21.com/search/r/property/?pref=13&area=13101,13102,13103,13104,13105,13106,13107,13108,13109,13110,13111,13112,13113,13114,13115,13116,13117,13118,13119,13120,13121,13122,13123&leopalaceBkFlg=1&wovn=en https://www.leopalace21.com/search/r/property/?pref=13&area=... Most places <$1k USD/month seem to be 20-25 sq meters
otikik 4y ago
SV salary?
- pieter_mj 4y ago
  Silicon Valley
creakingstairs 4y ago
It also fails to mention the actual reason why the houses have been “affordable” for Japanese people. The banks give out 30 year mortgages on very low rates which you can deduct from your income tax [1], without requiring a big deposit. [１] https://japanpropertycentral.com/real-estate-faq/home-loan-tax-deduction/ https://japanpropertycentral.com/real-estate-faq/home-loan-t...
- jbay808 4y ago
  Generous loans increase buying power and, in the absence of elastic supply, would result in rising prices that keep housing expensive. The wonder is that you can buy a new construction 3-story 3 bed/2 bath house 5 minutes from Sugamo station for $550k, despite the mortgages being so generous. (Source: the flyer that a real estate agent handed to me in the street last night).
- ekianjo 4y ago
  Note that most rates for loans are variable in Japan. Over 30 years thats a fairly big risk nowadays.

fomine3 4y ago

Japanese are fine without SV salary because they don't want big house like SV

ekianjo 4y ago
its not that they dont want, they were never given the choice. I can guarantee that very rich Japanese people enjoy big houses.
- fomine3 4y ago
  It's true that people live smaller house than they want, but the size shouldn't be too big. Metropolis with great public transport or good city with big house and car, pick one. Riches can have big house and a car in the metropolis but it's impossible everyone to have. For who prefer big house, they can live in local cities if they can remote work
  - ekianjo 4y ago
    > For who prefer big house, they can live in local cities if they can remote work If you want to have a family you basically can't live in a small cramped apartment in the city. That's why families with kids move out and people commute like crazy.

bamboozled 4y ago

This comment is real and should not be down voted.

innocenat 4y ago

6m/year is more than median income but is nowhere near SV salary and I know tons of people living in central Tokyo on that salary.

ekianjo 4y ago
They live in 10 square meters?
- innocenat 4y ago
  You can easily get 20-25m² for 60-70k about 20 min from Shibuya. Not sure where you live that you think it's super expensive.
- trinovantes 4y ago
  https://www.leopalace21.com/search/r/property/?pref=13&area=13101,13102,13103,13104,13105,13106,13107,13108,13109,13110,13111,13112,13113,13114,13115,13116,13117,13118,13119,13120,13121,13122,13123&leopalaceBkFlg=1&wovn=en https://www.leopalace21.com/search/r/property/?pref=13&area=... Most places <$1k USD/month seem to be 20-25 sq meters

otikik 4y ago

SV salary?

pieter_mj 4y ago
Silicon Valley

creakingstairs 4y ago

It also fails to mention the actual reason why the houses have been “affordable” for Japanese people. The banks give out 30 year mortgages on very low rates which you can deduct from your income tax [1], without requiring a big deposit. [１] https://japanpropertycentral.com/real-estate-faq/home-loan-tax-deduction/ https://japanpropertycentral.com/real-estate-faq/home-loan-t...

jbay808 4y ago
Generous loans increase buying power and, in the absence of elastic supply, would result in rising prices that keep housing expensive. The wonder is that you can buy a new construction 3-story 3 bed/2 bath house 5 minutes from Sugamo station for $550k, despite the mortgages being so generous. (Source: the flyer that a real estate agent handed to me in the street last night).
ekianjo 4y ago
Note that most rates for loans are variable in Japan. Over 30 years thats a fairly big risk nowadays.