Japanese real estate- 9/06

The housing market is an interesting study. Japanese homes are designed to last 30 years. As the house ages, it becomes less valuable because it is deemed old. The property appreciates, but I guess the house is kind of like a car; the more miles, the less it's worth.

There are lots of empty lots in our older, established neighborhood. We watched a house being demolished, thinking that the new construction was right behind it, but then we saw the 'for sale' sign go up for the property.

There seems to be quite an aversion to used, I mean, previously owned, things. Try as I might, I just can't find a second-hand kimono store here. So it stands to reason that a previously lived-in house would not be appealing. Our house is a rental, and I'm sure, will always be a rental. Until it meets its maker, that is.

There's a big push by the government to build houses that last longer. A ten-year goal has been announced to produce houses that last 40 years. The long term idea is to build homes that are around 200 years by using flexible floor plans that can be changed as the family size/needs change.

Could be the right time to import some of those lovely modular homes that dot the US landscape.
Hmmm, on second thought, they might not pass the earthquake regs.