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Housing Markets and Household Behavior in Japan (Hardcover, 1st ed. 2019)
Loot Price: R3,186
Discovery Miles 31 860
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Housing Markets and Household Behavior in Japan (Hardcover, 1st ed. 2019)
Series: Advances in Japanese Business and Economics, 19
Expected to ship within 12 - 17 working days
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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.
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