Housing markets and household behavior in Japan / Miki Seko.

Format:

Book

Author/Creator:

Seko, Miki, 1948- author.

Series:

Advances in Japanese business and economics ; v. 19.

Advances in Japanese Business and Economics, 2197-8859 ; volume 19

Language:

English

Subjects (All):

Housing--Japan.

Housing.

Housing policy--Japan.

Housing policy.

Japan.

Physical Description:

xv, 290 pages ; 25 cm.

Place of Publication:

Singapore : Springer Nature Singapore, [2019]

Summary:

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.

Notes:

Includes bibliographical references and index.

ISBN:

9811333688

9789811333682

OCLC:

1057649863