And it wouldn't cost you a $300k down payment, it could very plausibly be $20k or $30k, and you wouldn't need $200k income to support the mortgage, you'd need "materially less" than that depending on what tradeoffs you wanted to make. Tokyo has one secret weapon here. Ready?
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That's because Tokyo is a giant sprawling mess.
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Amsterdam isn't and the same applies more or less.
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.... oh my, a *modest* home?
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$300K down and $5K/mo will get you a nice little new built standalone house within the core 23 of Tokyo paid off before 25 years
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Re b and c, is it preferred / more expensive to live outside a city?
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There’s really no such thing as a modest SFH in the Bay Area as the poster claims, since land is luxury. This is probably true in Tokyo too, but they solve with both density and transit.
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SV & surrounds seems to be an exceptional case where prices are caused by insufficient housebuilding (and insufficient density). In most times & places (inc. bubble-era Tokyo) crazy prices are driven by financial housing bubbles, which are impervious (or worse) to housebuilding.
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