In Japan, train companies can earn revenue from rents in surrounding station areas on top of fares. In CA, we can invest billions in infrastructure and subsequent spikes in nearby land/property values are captured almost wholly by the people who happen to own nearby property. https://twitter.com/dangillmor/status/1078168004360171520 …
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Kim, this country was doomed from the start when it regarded property ownership as some divine status.
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Complicated. Being a property-owning democracy meant that we didn’t follow the more unequal, concentrated and feudal structure of Latin American economies in the rest of the Americas.
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Owning a resident as an investment is a relatively recent development...and one that only occurs in certain parts of the country. I owned a home for 5 years in '70 & ‘80s. The increase in value was in the low four figures—typical for the era. 1/
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I never expected my current home to appreciate the way it has. It was a home, not a speculative investment. People often sell their homes at a loss. Values fluctuate differently elsewhere, like Vegas. Let’s not forget the housing bust before we asssume homeo who is getting rich.
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In Seoul, there are underground shopping malls between subway stations. It's a wonder. You can do almost everything underground.
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Also Montreal.
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Collective capitalism?
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Totally accurate - I lived there for many years. In particular their attitude towards land ownership is much more community oriented. A Japanese family that adopted me charges next to nothing for prime land in a Tokyo commuter area that their ancestors farmed for generations...
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