2) Japan has national zoning, allowing Tokyo 2X the rate of housing permitted as all of CA https://next.ft.com/content/023562e2-54a6-11e6-befd-2fc0c26b3c60 …pic.twitter.com/lmgqQ7AvJQ
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2) Japan has national zoning, allowing Tokyo 2X the rate of housing permitted as all of CA https://next.ft.com/content/023562e2-54a6-11e6-befd-2fc0c26b3c60 …pic.twitter.com/lmgqQ7AvJQ
Japan tears down houses and rebuilds every few decades. People don’t like ‘second hand houses’. Not comparable
Manhattan also has the same issues bc the American system tends to treat housing as an ever-rising asset.
3) This allows Tokyo to have constant or falling prices w/ urban growth, unlike SF, London. https://next.ft.com/content/023562e2-54a6-11e6-befd-2fc0c26b3c60 …pic.twitter.com/bLGURydDq5
There are other factors. Low immigration. Shrinking population. A culture that sees old houses as dangers to be replaced.
Do you have a non paywall link to the article?
just search for the title and click through
but beneficiaries of wealth transfer won't be able to afford those private dinners w/ the echelons of the US political duopoly
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