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Housing Markets and Household Behavior in Japan pp 275–282Cite as

Conclusion: Policy Implications and Future Research

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Part of the book series: Advances in Japanese Business and Economics ((AJBE,volume 19))

Abstract

First, this chapter describes policy implications derived from an economic analysis of the Japanese housing market from four points of view: (1) changes in real estate prices and the impacts on the macro economy; (2) the relationship between housing type and economic welfare; (3) an economic analysis of earthquake risk and the real estate market; and (4) the change in household behavior after the 2011 Tohoku earthquake and tsunami. Next, this chapter describes future research topics from three points of view: (i) Designing a Housing Finance System, (ii) Liquidity and Provision in the Rental Housing Market, (iii) Earthquake Risk and Disaster Prevention Polies.

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Notes

  1. 1.

    For example, see Exhibit 1, Chap. 1, in Bardhan et al. (2012).

  2. 2.

    For example, see Reverse 60 (non-recouse type) of Japan Housing Finance Agency.

  3. 3.

    Note that tenant protection similar to Japan’s “ordinary tenancy” also exists in Germany, which distinguishes between new and ongoing rent.

  4. 4.

    In the US, about 98% of rented homes are on fixed-term tenancies.

  5. 5.

    Standard earthquake insurance rates were last revised in January 2017, and they continue to be based on extremely broad-brush evaluations of the risk in each region.

Reference

  • Bardhan, A., Edelstein, R. H., & Kroll, C. A. (2012). Global housing markets—crises, policies, and institutions. New Jersey: Wiley.

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Authors and Affiliations

  1. Faculty of Economics, Musashino University, Koto-ku, Tokyo, Japan

    Miki Seko

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  1. Miki Seko
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Correspondence to Miki Seko .

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Seko, M. (2019). Conclusion: Policy Implications and Future Research. In: Housing Markets and Household Behavior in Japan. Advances in Japanese Business and Economics, vol 19. Springer, Singapore. https://doi.org/10.1007/978-981-13-3369-9_14

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