Home Ownership and Economic Change in Japan

Home Ownership and Economic Change in Japan,10.1080/02673030304241,Housing Studies,RAY FORREST,PATRICIA KENNETT,MISA IZUHARA

Home Ownership and Economic Change in Japan   (Citations: 8)
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The state of the residential property market is an important issue for both the macro economy and for individual households in Japan. Home ownership is the main pillar of housing policy and as a very expensive commodity it has been deeply implicated in the economic problems of the 1990s. This paper considers the role of home ownership within the broader context of the post-war Japanese social structure. The core of the paper is an assessment of the impact of the recent period of financial turbulence on the home ownership sector. This discussion is set within the broader context of the new pressures emerging around the institutional arrangements which have sustained the Japanese social system.
Journal: Housing Studies - HOUSING STUD , vol. 18, no. 3, pp. 277-293, 2003
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    • ...The social and economic changes in Japanese home-ownership in the troubled post-bubble economy have been analysed in the literature (Forrest et al., 2003; Hirayama, 2003a, b, c). However, the spatial fragmentation caused by differentiated ups and downs in the urban housing market, which have been amplified since the middle of the 1990s, has created a novel context for home-ownership...
    • ...Households who became homeowners during the bubble period have been suffering capital losses since the beginning of the ‘lost decade’ (Forrest et al., 2003; Hirayama, 2003a, b, c). The shift in the nominal prices of housing of varied types acquired with GHLC loans in Tokyo and Osaka is shown in Table 1. The data on houses financed by the GHLC provide the most useful insights into developments in housing values because, unlike other ...

    Yosuke Hirayama. Running hot and cold in the urban home-ownership market: The experienc...

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