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I just Googled those claims. Comparing the average house price of the Greater Tokyo Metropolitan Area (5200 mi^2) to NYC (472.43 mi^2) is really a biased compar

I just Googled those claims. Comparing the average house price of the Greater Tokyo Metropolitan Area (5200 mi^2) to NYC (472.43 mi^2) is really a biased comparison. I suspect the houses built metric is similarly taken out of context possibly due to houses being torn down (more common in Japan than the US) meaning there's isn't as much of a net new home build up.

anovikov 4y ago
Maybe this is the whole point. Tokyo has public transport system that makes commute across such a vast area possible, and this is what explains property prices.
- marcinzm 4y ago
  There is a whole NYC Metropolitan Area which spans 4669 mi^2.
  - hgfdhgdfhgf 4y ago
    What is the average home price in the "whole NYC Metropolitan Area"?
    - marcinzm 4y ago
      You're free to do that research, I posted not to make any specific argument but simply to point out that making out of context claims isn't cool.
      - hgfdhgdfhgf 4y ago
        I did do my research. "The median home sale price in New York City as of Quarter 2 was $767K, a 0% change year-over-year. A total of 11489 homes traded, a mere -1% difference compared to the same month last year. In Quarter 2, the median price per square foot was $979, a 6% YoY change. The median home sale price in Manhattan was $1.2M." https://www.propertyshark.com/mason/market-trends/residential/nyc-all https://www.propertyshark.com/mason/market-trends/residentia... "A survey conducted by Recruit of people who bought newly constructed detached houses in the Tokyo metropolitan area in 2021 found that the average purchase price was ¥43.3 million, the highest level since the survey began in 2014." https://www.nippon.com/en/japan-data/h01311/#:~:text=A%20survey%20conducted%20by%20Recruit,the%20survey%20began%20in%202014 https://www.nippon.com/en/japan-data/h01311/#:~:text=A%20sur.... "In September 2020, the average listing price for a newly constructed detached wooden house in Tokyo of between 100-sqm and 300-sqm (1,076 sqft and 3,229 sqft) was: Greater Tokyo Area: ¥36,850,000 ($354,000) Tokyo (23 Wards + Western Suburbs): ¥42,880,000 ($412,000) Tokyo 23 Wards: ¥59,410,000 ($570,000) Tokyo western suburbs: ¥40,110,000 ($385,000)" https://resources.realestate.co.jp/news/how-much-does-it-cost-to-buy-a-house-in-tokyo-october-2020-update/ https://resources.realestate.co.jp/news/how-much-does-it-cos...
- cinntaile 4y ago
  It's a good point you bring up, if you have a bigger area but you can get to everywhere within the same time it doesn't really matter what the area is. They should provide isochrone maps of both cities to give that argument any substance though!

anovikov 4y ago

Maybe this is the whole point. Tokyo has public transport system that makes commute across such a vast area possible, and this is what explains property prices.

marcinzm 4y ago
There is a whole NYC Metropolitan Area which spans 4669 mi^2.
- hgfdhgdfhgf 4y ago
  What is the average home price in the "whole NYC Metropolitan Area"?
  - marcinzm 4y ago
    You're free to do that research, I posted not to make any specific argument but simply to point out that making out of context claims isn't cool.
    - hgfdhgdfhgf 4y ago
      I did do my research. "The median home sale price in New York City as of Quarter 2 was $767K, a 0% change year-over-year. A total of 11489 homes traded, a mere -1% difference compared to the same month last year. In Quarter 2, the median price per square foot was $979, a 6% YoY change. The median home sale price in Manhattan was $1.2M." https://www.propertyshark.com/mason/market-trends/residential/nyc-all https://www.propertyshark.com/mason/market-trends/residentia... "A survey conducted by Recruit of people who bought newly constructed detached houses in the Tokyo metropolitan area in 2021 found that the average purchase price was ¥43.3 million, the highest level since the survey began in 2014." https://www.nippon.com/en/japan-data/h01311/#:~:text=A%20survey%20conducted%20by%20Recruit,the%20survey%20began%20in%202014 https://www.nippon.com/en/japan-data/h01311/#:~:text=A%20sur.... "In September 2020, the average listing price for a newly constructed detached wooden house in Tokyo of between 100-sqm and 300-sqm (1,076 sqft and 3,229 sqft) was: Greater Tokyo Area: ¥36,850,000 ($354,000) Tokyo (23 Wards + Western Suburbs): ¥42,880,000 ($412,000) Tokyo 23 Wards: ¥59,410,000 ($570,000) Tokyo western suburbs: ¥40,110,000 ($385,000)" https://resources.realestate.co.jp/news/how-much-does-it-cost-to-buy-a-house-in-tokyo-october-2020-update/ https://resources.realestate.co.jp/news/how-much-does-it-cos...
cinntaile 4y ago
It's a good point you bring up, if you have a bigger area but you can get to everywhere within the same time it doesn't really matter what the area is. They should provide isochrone maps of both cities to give that argument any substance though!