Japan does not culturally treat housing and homeownership as a store of wealth the way America has for most of a century and as a result, all of its downstream policies like taxation, subsidies, zoning, etc. don’t enable housing to appreciate disproportionately faster than wages.https://twitter.com/hblodget/status/1133539607264550914 …
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Sure, but that's not unique to Japan - Israel and France have heavy state involvement in zoning too. Japanese YIMBYism goes to the 1990s.
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That’s not really true. Japan has always had very lax suburban zoning, which is much more important anyway since that’s where most people live
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What is the reference?
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