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It is expensive to live where the jobs are. And young families need the income. And they usually don't have the time for a long commute. "Tokyo is one of the m

It is expensive to live where the jobs are. And young families need the income. And they usually don't have the time for a long commute. "Tokyo is one of the most expensive cities in the world. It made the number 10 spot on Deutsche Bank’s annual Mapping the World’s Prices report in 2019 and is the third most expensive city for expatriates on Mercer’s 2020 Cost of Living Survey." https://blog.gaijinpot.com/how-much-is-the-average-rent-in-tokyo/ https://blog.gaijinpot.com/how-much-is-the-average-rent-in-t...

inkyoto 3y ago
From the quoted article: > «However, you’ll often hear from people that Tokyo isn’t “that expensive,” which isn’t false, depending on your location and lifestyle. Indeed, the Deutsche Bank report lists the average price for a “typical” Tokyo two-bedroom apartment as US$1,903 (¥203,730)». A random look through apartments in Shibuya-ku (https://apartments.gaijinpot.com/en/rent/tokyo/shibuya-ku https://apartments.gaijinpot.com/en/rent/tokyo/shibuya-ku), one of the most expensive wards in Tokyo, has turned up a 3 bedroom apartment for JPY 441,000 (~ USD3k) a month. This is less than the cost of a 2 bedroom apartment in the Sydney CBD today. Most importantly, these are rental prices. My point remains – house prices in Japan are low, and the cost of living for an expat does not translate into local housing costs.
- fxtentacle 3y ago
  My impression is that young Japanese nowadays are spending a larger percentage of their income on rent than their parents did. That might lead to them not feeling financially ready yet, especially when comparing to an elderly generation which owned the family home at their age. Also, you're not wrong with your comparison against Sydney. But are young families in Sydney having more kids? Or is it maybe just bad in both cases?
  - inkyoto 3y ago
    Young Japanese with professional jobs are different from young Japanese living in the countryside. The former is the lifelong job stability (job hopping is far less common in the Japanese corporate environment compared to the West), and the latter is oftentimes (but not always) a job in a cottage industry, e.g. running a centuries long family business that makes combs or grows green tea. Wages are overall lower in Japan, but that somewhat levels off with food and housing being lower as well. Yes, young families in Sydney are procreating, and quite successfully so. Two children are nearly a norm, three children is also common, and even four children is not that uncommon. Preschool enrollments are at an all time high.
    - matthewterhune 3y ago
      Birth rate in Sydney is down to 1.62 and falling as of 2021, and is lower than in NSW in general. Well below replacement. https://www.smh.com.au/national/nsw/baby-drought-the-suburbs-with-sydney-s-lowest-fertility-rates-20221127-p5c1ky.html https://www.smh.com.au/national/nsw/baby-drought-the-suburbs...
      - defrost 3y ago
        Birth rates in Sydney where the young families are is 2.05 .. Camden, etc where the housing is affordable. Birth rates in the inner city areas and expensive suburbs is low. Will Australia suffer if high priced lawyers and real estate moguls are not replaced?
        matthewterhune 3y ago
        Yes, the birth rates are higher where the birth rates are higher, but you could do this with any city - find some enclave that's doing better than the rest on whatever metric. Sydney as a whole is below replacement fertility just like every other large westernized city, and the trend is down, not up.
- tjpnz 3y ago
  You can even rent a place in Setagaya for half that price and commute the 5-10 minutes to Shibuya.

inkyoto 3y ago

From the quoted article: > «However, you’ll often hear from people that Tokyo isn’t “that expensive,” which isn’t false, depending on your location and lifestyle. Indeed, the Deutsche Bank report lists the average price for a “typical” Tokyo two-bedroom apartment as US$1,903 (¥203,730)». A random look through apartments in Shibuya-ku (https://apartments.gaijinpot.com/en/rent/tokyo/shibuya-ku https://apartments.gaijinpot.com/en/rent/tokyo/shibuya-ku), one of the most expensive wards in Tokyo, has turned up a 3 bedroom apartment for JPY 441,000 (~ USD3k) a month. This is less than the cost of a 2 bedroom apartment in the Sydney CBD today. Most importantly, these are rental prices. My point remains – house prices in Japan are low, and the cost of living for an expat does not translate into local housing costs.

fxtentacle 3y ago
My impression is that young Japanese nowadays are spending a larger percentage of their income on rent than their parents did. That might lead to them not feeling financially ready yet, especially when comparing to an elderly generation which owned the family home at their age. Also, you're not wrong with your comparison against Sydney. But are young families in Sydney having more kids? Or is it maybe just bad in both cases?
- inkyoto 3y ago
  Young Japanese with professional jobs are different from young Japanese living in the countryside. The former is the lifelong job stability (job hopping is far less common in the Japanese corporate environment compared to the West), and the latter is oftentimes (but not always) a job in a cottage industry, e.g. running a centuries long family business that makes combs or grows green tea. Wages are overall lower in Japan, but that somewhat levels off with food and housing being lower as well. Yes, young families in Sydney are procreating, and quite successfully so. Two children are nearly a norm, three children is also common, and even four children is not that uncommon. Preschool enrollments are at an all time high.
  - matthewterhune 3y ago
    Birth rate in Sydney is down to 1.62 and falling as of 2021, and is lower than in NSW in general. Well below replacement. https://www.smh.com.au/national/nsw/baby-drought-the-suburbs-with-sydney-s-lowest-fertility-rates-20221127-p5c1ky.html https://www.smh.com.au/national/nsw/baby-drought-the-suburbs...
    - defrost 3y ago
      Birth rates in Sydney where the young families are is 2.05 .. Camden, etc where the housing is affordable. Birth rates in the inner city areas and expensive suburbs is low. Will Australia suffer if high priced lawyers and real estate moguls are not replaced?
      - matthewterhune 3y ago
        Yes, the birth rates are higher where the birth rates are higher, but you could do this with any city - find some enclave that's doing better than the rest on whatever metric. Sydney as a whole is below replacement fertility just like every other large westernized city, and the trend is down, not up.
tjpnz 3y ago
You can even rent a place in Setagaya for half that price and commute the 5-10 minutes to Shibuya.