Comment by byw

4 days ago

More so in the Chinese-speaking world and South Korea because the industrialization/urbanization is more recent, so there's rising demand in the urban areas with high population growth, resulting in high prices.

Japan's urbanization stopped long ago, and it's not taking in immigrants fast enough, so the urban areas have stopped growing.

The mentality refers to East Asia's deep agrarian root that places high value on owning land that can be passed down the generations (the alternative was often quasi-servile farm labour that locks families in poverty). Property purchases are usually multi-generational efforts, so families can generally take the brunt of overinflated prices.

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byw

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numpad0  4 days ago 

  1. Japan's urbanization stopped long ago,   
  2. and it's not taking in immigrants fast enough,   
  3. so the urban areas have stopped growing.

it's just my gut feeling but feels like each of these three statement can be individually debunked...

  • dcrazy  4 days ago

    I thought the Tokyo megalopolis was still growing due to internal migration, at the cost of depleting literally everywhere else in the country.

  • johnnyanmac  4 days ago

    2 is pretty infamous unless something big happened recently (a lot of big things in JP happened recently, so I could have legitmately missed something).

    1 is 50/50. Urbanization is growing because the small town life is shrinking.it's wrong at face value, but there is a cost to this in the overall economy, since the country overall isn't growing.