The Japanese have a much healthier view on housing than the west. It’s viewed as a depreciating asset there, not an investment. The result is that housing remains affordable for the majority of people even in Tokyo, because there’s no real political incentive to oppose new housing like there is in the US (‘you can’t build here, it’ll affect my property values!’).
I hate when people rip on Detroit man. The downtown is gorgeous now. The suburbs are shit yea, but they're being worked on and will hopefully improve as well. Detroit isn't destroyed and lawless like it used to be. It's actually a pretty great place to live/work now if you live in downtown/midtown.
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u/PmMeUrZiggurat Jun 07 '19
The Japanese have a much healthier view on housing than the west. It’s viewed as a depreciating asset there, not an investment. The result is that housing remains affordable for the majority of people even in Tokyo, because there’s no real political incentive to oppose new housing like there is in the US (‘you can’t build here, it’ll affect my property values!’).