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The deflation is often masked by advances in technology. A new 150,000/month condo in Tokyo in 2014 has much better facilities than a then-new 150,000/month co
by j_lev 12y ago
The deflation is often masked by advances in technology.
A new 150,000/month condo in Tokyo in 2014 has much better facilities than a then-new 150,000/month condo in Tokyo in 1994. Indeed, the latter is probably struggling to achieve rents of half that today.
- ekianjo 12y agoThat has virtually nothing to do with deflation. This has to do with housing/land regulations in Japan, causing the value of apartments to decrease over time. There was an excellent article about that on HN a couple of months back, by the way. On top of that, buying a new apartment has nowhere got cheaper than it was 10 years ago. Prices have been pretty much stable until they pumped up the tax recently.