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Well, this is curious. I will study this. At least one useful comment, thank you. Nevertheless, if housing is so affordable in Japan, why are there still peopl

Well, this is curious. I will study this. At least one useful comment, thank you. Nevertheless, if housing is so affordable in Japan, why are there still people who don't own homes? Can an average McDonalds worker in their 20-ies just go and buy a home easily without applying for a lifetime-long mortgage?

Barrin92 3y ago
> if housing is so affordable in Japan, why are there still people who don't own homes? You literally have it the wrong way around. There's less incentive to own homes in countries where housing prices fall. Owning a home actually costs you money, it isn't a good investment in the absence of artificial scarcity. In Japan a house is a consumer good like a car, in fact on average the value of most houses drops to about zero in 30-40 years. Some of the richest countries in the world have the lowest rates of personal home ownership, Switzerland, Germany, Japan among them because it isn't an investment vehicle and rent protections are good. This narrative of being desperate to own a home just doesn't make any sense.
- qwerty456127 3y ago
  I consider the value of owning a house is being free from having to pay rent rather than to gain on the investment. The fact a house is considered an investment (in full meaning of the term so once you own it you worry when its price falls) means it's not really affordable.
Steko 3y ago
> if housing is so affordable in Japan, why are there still people who don't own homes? Mostly because they don't need or want their own house and/or they spend their money on other stuff. > Can an average McDonalds worker in their 20-ies just go and buy a home easily The median McDonalds worker in Japan is 17 and lives with their parents. And maybe 3/4 of the ones who aren't teens are freeters. If you don't make a lot of money you can certainly buy something but it won't be the nicest or in the best location. > without applying for a lifetime-long mortgage? Many people buy with cash, many get nicer homes with 35-year mortgages at super low interest rates.
- qwerty456127 3y ago
  Now I feel happy there is such a place where that is this way and people live without worrying about where to live. Thank you for sharing this knowledge.

Barrin92 3y ago

> if housing is so affordable in Japan, why are there still people who don't own homes? You literally have it the wrong way around. There's less incentive to own homes in countries where housing prices fall. Owning a home actually costs you money, it isn't a good investment in the absence of artificial scarcity. In Japan a house is a consumer good like a car, in fact on average the value of most houses drops to about zero in 30-40 years. Some of the richest countries in the world have the lowest rates of personal home ownership, Switzerland, Germany, Japan among them because it isn't an investment vehicle and rent protections are good. This narrative of being desperate to own a home just doesn't make any sense.

qwerty456127 3y ago
I consider the value of owning a house is being free from having to pay rent rather than to gain on the investment. The fact a house is considered an investment (in full meaning of the term so once you own it you worry when its price falls) means it's not really affordable.

Steko 3y ago

> if housing is so affordable in Japan, why are there still people who don't own homes? Mostly because they don't need or want their own house and/or they spend their money on other stuff. > Can an average McDonalds worker in their 20-ies just go and buy a home easily The median McDonalds worker in Japan is 17 and lives with their parents. And maybe 3/4 of the ones who aren't teens are freeters. If you don't make a lot of money you can certainly buy something but it won't be the nicest or in the best location. > without applying for a lifetime-long mortgage? Many people buy with cash, many get nicer homes with 35-year mortgages at super low interest rates.

qwerty456127 3y ago
Now I feel happy there is such a place where that is this way and people live without worrying about where to live. Thank you for sharing this knowledge.