Housing Markets And Household Behavior In Japan

Author : Miki Seko
Publisher :
ISBN 13 : 9789811333705
Total Pages : 290 pages
Book Rating : 4.0X/5 ( download)

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Download or read book Housing Markets and Household Behavior in Japan written by Miki Seko and published by . This book was released on 2019 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses essential questions about housing by building theoretical models based on various real world problems in Japan and testing these models using econometric methods. Almost all related empirical analyses use Japanese household longitudinal data. Accordingly, the author analyzes whole aspects of the data, based on an understanding of the actual situation, theory, and empirical analysis, to directly derive a vision of a future housing policy. Why are houses expensive and difficult to obtain in Japan? Why do people have to live in small houses? Why do people not relocate frequently? Why is the earthquake insurance subscription rate so low, particularly in an earthquake-prone country such as Japan, even after such a catastrophic event as the Great East Japan Earthquake of 2011? How do existing housing finance and tax policies or laws relate to these real world problems? To answer these questions, the book clarifies the unique criteria that characterize housing problems in Japan and presents a vision of future housing policy. The short answer is that existing housing finance policy that adopts criteria based on the floor space of houses creates incentives for people to live in even smaller houses. Furthermore, the Japan Rental Act, which affects people renting homes, reduces residential mobility. The incidence of underinsurance against earthquake risk is a result of earthquake insurance market imperfections such as crude and rough geographical risk ratings.

Author : Miki Seko
Publisher : Springer
ISBN 13 : 9811333696
Total Pages : 290 pages
Book Rating : 4.99/5 ( download)

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Download or read book Housing Markets and Household Behavior in Japan written by Miki Seko and published by Springer. This book was released on 2019-05-08 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses essential questions about housing by building theoretical models based on various real world problems in Japan and testing these models using econometric methods. Almost all related empirical analyses use Japanese household longitudinal data. Accordingly, the author analyzes whole aspects of the data, based on an understanding of the actual situation, theory, and empirical analysis, to directly derive a vision of a future housing policy. Why are houses expensive and difficult to obtain in Japan? Why do people have to live in small houses? Why do people not relocate frequently? Why is the earthquake insurance subscription rate so low, particularly in an earthquake-prone country such as Japan, even after such a catastrophic event as the Great East Japan Earthquake of 2011? How do existing housing finance and tax policies or laws relate to these real world problems? To answer these questions, the book clarifies the unique criteria that characterize housing problems in Japan and presents a vision of future housing policy. The short answer is that existing housing finance policy that adopts criteria based on the floor space of houses creates incentives for people to live in even smaller houses. Furthermore, the Japan Rental Act, which affects people renting homes, reduces residential mobility. The incidence of underinsurance against earthquake risk is a result of earthquake insurance market imperfections such as crude and rough geographical risk ratings. The book elaborates on these factors in four parts and will be of interest to all readers who are concerned with the housing market and household behavior in Japan.

Author : Yukio Noguchi
Publisher : University of Chicago Press
ISBN 13 : 0226590208
Total Pages : 280 pages
Book Rating : 4.02/5 ( download)

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Download or read book Housing Markets in the United States and Japan written by Yukio Noguchi and published by University of Chicago Press. This book was released on 2007-12-01 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although Japan and the United States are the world's leading economies, there are significant differences in the ways their wealth is translated into living standards. A careful comparison of housing markets illustrates not only how living standards in the two countries differ, but also reveals much about saving patterns and how they affect wealth accumulation. In this volume, ten essays discuss the evolution of housing prices, housing markets and personal savings, housing finance, commuting, and the impact of public policy on housing markets. The studies reveal surprising differences in housing investment in the two countries. For example, because down payments in Japan are much higher than in the United States, Japanese tend to delay home purchases relative to their American counterparts. In the United States, the advent of home equity credit may have reduced private saving overall. This book is the first comparison of housing markets in Japan and the United States, and its findings illuminate the effects of housing markets on productivity growth, business investment, and trade.

Author : Yosuke Hirayama
Publisher : Routledge
ISBN 13 : 1134176295
Total Pages : 232 pages
Book Rating : 4.98/5 ( download)

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Download or read book Housing and Social Transition in Japan written by Yosuke Hirayama and published by Routledge. This book was released on 2006-11-24 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bringing together a number of perspectives on the Japanese housing system, Housing and Social Transition in Japan provides a comprehensive, challenging and theoretically developed account of the dynamic role of the housing system during a period of unprecedented social and economic change in one of the most enigmatic social, political, and economic systems of the modern world. While Japan demonstrates many of the characteristics of some western housing and social systems, including mass homeownership and consumption-based lifestyles, extensive economic growth and rapid urban modernization has been achieved in balance with traditional social values and the maintenance of the family system. Helpfully divided into three sections, Housing and Social Transition in Japan: explores the dynamics of the development of the housing system in post-war Japan deals with social issues related to housing in terms of social aging, family relations, gender and inequality addresses the Japanese housing system and social change in relation to comparative and theoretical frameworks. As well as providing challenges and insights for the academic community at large, this book also provides a good introduction to the study of Japan and its housing, economic, social and welfare system generally.

Author : Yuko Hashimoto
Publisher :
ISBN 13 : 9781513557700
Total Pages : 34 pages
Book Rating : 4.0X/5 ( download)

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Download or read book Demographics and the Housing Market: Japan's Disappearing Cities written by Yuko Hashimoto and published by . This book was released on 2020-09-25 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: How does a shrinking population affect the housing market? In this study, drawing on Japan's experience, we find that there exists an asymmetric relationship between housing prices and population change. Due to the durability of housing structures, the decline in housing prices associated with population losses is estimated to be larger than the rise in prices associated with population increases. Given that population losses have been and are projected to be more acute in rural areas than urban areas in Japan, the on-going demographic transition in Japan could worsen regional disparities, as falling house prices in rural areas could intensify population outflows. Policy measures to promote more even population growth across regions, and avoid the over-supply of houses, are critical to stabilize house prices with a shrinking population.

Author : Charles Yuji Horioka
Publisher :
ISBN 13 :
Total Pages : 484 pages
Book Rating : 4.60/5 ( download)

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Download or read book Household Saving in Japan written by Charles Yuji Horioka and published by . This book was released on 1986 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Author : Richard Ronald
Publisher : Routledge
ISBN 13 : 1136888861
Total Pages : 304 pages
Book Rating : 4.61/5 ( download)

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Download or read book Home and Family in Japan written by Richard Ronald and published by Routledge. This book was released on 2017-12-04 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the Japanese language the word ‘ie’ denotes both the materiality of homes and family relations within. The traditional family and family house - often portrayed in ideal terms as key foundations of Japanese culture and society - have been subject to significant changes in recent years. This book comprehensively addresses various aspects of family life and dwelling spaces, exploring how homes, household patterns and kin relations are reacting to contemporary social, economic and urban transformations, and the degree to which traditional patterns of both houses and households are changing. The book contextualises the shift from the hegemonic post-war image of standard family life, to the nuclear family and to a situation now where Japanese homes are more likely to include unmarried singles; childless couples; divorcees; unmarried adult children and elderly relatives either living alone or in nursing homes. It discusses how these new patterns are both reinforcing and challenging typical understandings of Japanese family life.

Author : Yosuke Hirayama
Publisher : Routledge
ISBN 13 : 1351619454
Total Pages : 286 pages
Book Rating : 4.55/5 ( download)

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Download or read book Housing in Post-Growth Society written by Yosuke Hirayama and published by Routledge. This book was released on 2018-01-19 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: In a globalising world, many mature economies share post-growth characteristics such as low economic growth, low fertility, declining and ageing of the population and increasing social stratification. Japan stands at the forefront of such social change in the East Asian region as well as in the Global North. It is in this context of ‘post-growth society’ that housing issues are examined, using the experiences of Japan at the leading edge of social transition in the region. The post-war housing system was developed during the golden age of economy and welfare, when upward social trajectories such as increasing population, high-speed economic growth with rising real incomes, housing construction driven by high demands, increasing rates of home ownership supported by generous government subsidies generated new housing opportunities and accompanying issues. As we have entered the post-growth phase of socio-economic development, however, it requires a re-examination of such structure, policy and debates. This volume explores what roles housing plays in the reorganisation and reconstruction of economic processes, social policy development, ideology and identity, and intergenerational relations. The volume offers a greater understanding of the characteristics of post-growth society – changing demography, economy and society – in relation to housing. It considers how a definitive shift to the post-growth period has produced new housing issues including risks as well as opportunities. Through analysis of the impact on five different areas: post-crisis economy, urban and regional variations, young adults and housing pathways, fertility and housing, and ageing and housing wealth, the authors use policy and institutions as overarching analytical tools to examine the contemporary housing issues in a post-growth context. It also considers any relevance from the Japanese experiences in the wider regional and global context. This original book will be of great interest to academics and students as well as policy makers and practitioners internationally in the fields of housing studies, urban studies, social policy, sociology, political economy, comparative analysis, and East Asian Studies.

Author : Fumio Hayashi
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.59/5 ( download)

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Download or read book Housing Finance Imperfections and Private Saving written by Fumio Hayashi and published by . This book was released on 1987 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a life-cycle simulation analysis of the interaction among savings decisions, housing purchase decisions, and the tax system in the United States and Japan. To investigate this issue, we first document the stylized fact that the typical Japanese household purchases a house later in the life-cycle with a higher downpayment ratio than its U.S. counterpart. Second, a life-cycle simulation model that includes the housing purchase decision is constructed and used to compare the behavior of typical U.S. and Japanese households. The Japanese household is induced to save more early in the life cycle in order to meet the higher downpayment requirement. The saving-consumption pattern resulting from a higher growth rate is shown to contribute to a higher aggregate saving rate in Japan compared to the U.S. However, the contribution of the induced early saving due to the downpayment requirement seems to be too small to explain a large differential in the saving rates of the two countries. Only if we introduce a bequest motive can the model generate the observed saving rate in Japan. Finally, tax reform concerning the tax deductibility of mortgage interest payments or the tax exempt status of interest income is shown to have a small impact on the aggregate saving rate in either country. For example, the introduction of tax-exempt saving in the U.S. would increase the saving rate by only 1.5%.

Author : Hiroshi Yoshikawa
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.79/5 ( download)

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Download or read book An Analysis of Female Labor Supply, Housing Demand and the Saving Rate in Japan written by Hiroshi Yoshikawa and published by . This book was released on 1988 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: