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Over the past two decades or so, inequality in Japan has grown [21] as a result of economic difficulties that Japan has faced since the end of the economic boom of the 1980s. This problem has been characterised by a rise in the percentage of the workforce employed on a temporary or part-time basis, from 19% in 1996 [ 22 ] to 34.5% in 2009, [ 23 ...
Figures from the 2012 Housing and Land Survey conducted by the Ministry of Internal Affairs and Communications indicate that Japan had 53,890,900 housing units at the time. Of these, 46,862,900 (86.9%) were occupied and 7,027,900 (13.0%) unoccupied.
In the 1980s, the direction of stock prices in Japan was largely determined by the asset market, particularly land prices, in Japan. [18] Looking at the monthly performance of Nikkei 225 in 1984, the index largely moved within 9900–11,600 range. [12] As land prices in Tokyo began to rise in 1985, the stock market also moved higher.
If one assumes that the housing market is efficient, the expected change in housing prices (relative to interest rates) can be computed mathematically. The calculation in the sidebox shows that a 1 percentage point change in interest rates would theoretically affect home prices by about 10% (given 2005 rates on fixed-rate mortgages).
A housing affordability index (HAI) is an index that measures housing affordability, usually the degree to which the median person or family in a particular country or region can afford housing/housing-related costs. [1] [2] [3] Housing affordability is one contribution to the cost of living in an area; measured by the cost-of-living index. [3]
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In the 2019 general election, both major political parties identified the housing gap as an obstacle for the country, and pledged to increase housing supply. [50] [51] The Parliament has a stated target of 300,000 new homes a year by the mid-2020s. [52]
Bubbles can be determined when an increase in housing prices is higher than the rise in rents. In the US, rent between 1984 and 2013 has risen steadily at about 3% per year, whereas between 1997 and 2002 housing prices rose 6% per year. Between 2011 and the third quarter of 2013, housing prices rose 5.83% and rent increased 2%. [19]