• Taldan@lemmy.world
        8·
        3 days ago

        Housing got cheaper in Japan. They went from the most expensive housing in the world to the cheapest in the industrialized world

        They did it by removing barriers to building housing, and incentivizing building homes. The downside is that rich people can’t profit as much off housing, which is a non-starter in many other countries

        • mic_check_one_two@lemmy.dbzer0.comEnglish
          4·
          3 days ago

          Housing is also a sort of money pit in Japan because abandoned houses often aren’t considered worth repairing. Old Japanese houses tend to end up with lots of issues, to the point that it is often cheaper to bulldoze and build new. There are plenty of stories of people buying an abandoned house for like $50… But that’s only the initial property cost. It was so cheap because everyone knows that they have to actually invest hundreds of thousands of dollars in bulldozing and rebuilding before the property will be habitable again.

          • Jagarico@lemmy.world
            1·
            3 days ago

            With hundreds of thousands of dollars you can build a giant mansion and still have some change for a good car. Unless you want it to be in the Tokyo central area or something.

  • Lemmyoutofhere@lemmy.caEnglish
    15·
    4 days ago

    Will only get cheaper if there is large scale deflation, and then nobody will be able to afford a house because everyone will be unemployed.

    • nwtreeoctopus@sh.itjust.works
      6·
      3 days ago

      Make it less economically attractive to own multiple houses (ban Air B&B, high tax rate on ownership beyond primary residence, ban corporate ownership of certain types of home, etc) and maybe we’ll see some shift.

  • unalivejoy@lemmy.zip
    1·
    3 days ago

    That’s why California and Florida have a public fund to let residents in disaster prone areas to rebuild their homes in the same place with little changes. Most homes in those areas are less than 5 years old.