Why 8 Million Homes Lie Empty in Japan
Residences left empty posing problems across the nation
The population keeps aging and shrinking, but new housing keeps getting built even though Japan has a glut of unused dwellings.
There are various reasons for this anomaly, including decades-old tax incentives that compel landowners who live elsewhere to keep dwellings, even if they are uninhabited, standing instead of razing such structures, a society that prefers new homes over used, and developers who cater to this proclivity and build housing not designed for multiple generations, rendering the value of a used unit virtually nil.
The increase in vacant dwellings, particularly run-down firetraps, has the central and local governments scrambling to address.
According to statistics from the internal affairs ministry last July, vacant dwellings increased by 8.3 percent from five years earlier to 8.2 million units in 2013, growing faster than the 5.3 percent rise in total residential units to 60.6 million.
That vacancy rate represents 13.5 percent of all housing units, the highest-ever ratio, and means 1 in 8 dwellings is empty.
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Dickie ... don't put the majority of your money into housing, have instead, a balanced portfolio of Investments.
Great advice by
Storekeeper above also.
.