Toronto builds a TON of new housing every year. Rental prices almost doubled in 5 years. How come?
LT: @patio11 is an amazing twitter follow. One of the bits of wisdom he espouses is how Tokyo remains affordable for housing despite *explosive population growth* and sky high demand because they simply BUILD TONS MORE HOUSES.
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"a ton" of new housing in Toronto: ~10,000 units per year In Tokyo: ~140,000 units per year
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There is that, but I would argue construction is no more important than the fact that the economy & wages have remained almost flat over the last 30+ years. Less construction might be better for Japan, forcing housing prices & therefore wages higher, or sending jobs out of Tokyo.
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Raising house price higher and wages higher. That's a match. They both cancel each other out.
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That take is debatable (not the construction side, but the explanation). For example, most housing in Japan depreciate extremely quickly (25 years, value is ~ 0), which impacts investment side a lot: housing is often not an investment in Japan.
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Sounds like a feature that should be emulated.
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Hmm
it almost seems like there is a connection with supply, demand and priceHvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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I like Patrick’s Twitter feed as well, but this one is off-target, I think. The greater Tokyo megalopolis is around 37.5 million people, or roughly the size of California. Adding 100k people/year there is 0.27% population growth. Need to see the denominator under that 100k.
Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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99% of new apartment supply in Tokyo in 2017 was under 100sqm
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Čini se da učitavanje traje već neko vrijeme.
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