Tokyo has positive population growth of about 100,000 people a year, and rents and home prices are roughly stable for last decade. How? Outconstructing NYC. And LA. And SF. And Boston. And Houston. Combined. Every year.https://twitter.com/rohoGames/status/1199342598919376898 …
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I’m curious - do you have US real estate in your portfolio?
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Not presently*, though I believe that will likely change at some point. * The extremely rigorous answer is "Technically yes, on the order of hundreds of dollars, but people other than financial professionals would rate this as Clearly Not."
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curious how they handle the increased need for water, power, sanitation, etc. Part of the problem I see in the US is overconsumption resulting in excess waste.
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Higher urban densities (in developed countries) make overall cost of infrastructure much cheaper. When US cities regulate for low density they spread development out with MUCH higher per capita infrastructure & transportation costs.
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It's not that they're skeptical of simple solutions it's that they can't differentiate good ones from bad ones. Rent control is an awful policy. People love it. De-zoning is a great policy. People rarely support it.
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In California, that would mean reviewing the limits on property tax growth that make residential property so poisonous to the tax base.
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It should be said that in Tokyo, a multifamily dwelling resembles what we in US call an ice cube tray.
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There are people living in Toyko in these "ice cube trays" that have more floor space and pay half of what I pay for a mortgage that I pay in rent in Santa Clara. I *envy* those "ice cube trays."
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Housing solves homelessness. I do have a question: isn’t there a surplus of vacant units? Or that might be outside of Tokyo?
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Yes, real estate in countryside is often seen as having no value. Often they can’t even give it away!
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