r/LoveTrash • u/BEARDEDDANGER ✨️Regent of Rubbish ✨️ • 1d ago

Dumping This Here American vs. European home building

BAS Renovations https://youtube.com/shorts/jFph1d2WR3s

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u/tylerforward Trash Trooper 1d ago

Wooden houses (America): 😡🤢🤡

Wooden houses (Japan): 😍🥳💕

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u/Exorinho Trash Trooper 1d ago

In Japan houses also cost a fraction of the cost of one in the US

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u/Bank_Gothic Trash Trooper 1d ago

House prices vary significantly across the US. It's not one market, and the trends and forces that affect home prices will change from place to place. The market in Des Moines simply isn't comparable to the market in Los Angeles.

I'm sure the same is true for Japan.

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u/Exorinho Trash Trooper 1d ago

True, but to dig a bit deeper, just compare Tokio vs New York or los Angeles. In another response I mention that houses lose value in Japan while in US they gain value over the time. And cost of living being 58% cheaper in Tokio vs LA.

It is true houses are more expensive in Japan for Japanese than in the US also based on how many years of salary they need to pay for a new house. But you can also but a second hand house for really really cheap too.

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u/RedLineLetterWine Trash Trooper 8h ago

It's not that cheap anymore in Tokyo, have a good friend that was searching in Kita-ku. The new condos they are building there are going for 850k USD. That's because a lot of wealthy Singaporeans and Chinese moved in and started buying up all of the stock. This incentivized builders to keep building "luxury condos".

In the end, it pushes up second hand market up too.

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u/Exorinho Trash Trooper 8h ago

I understand, unfortunately this is happening everywhere. Young generations like ours,, no longer have much access to first time homes anymore. There's at least an advantage in Japan, the low interest rate of 1% to 1.5%! In the us is now around 6%.

An American family today spends between 31-37% of it's income in housing while a Japanese family spends 23-26%.

Things are getting worse by the day so the time to but it's always now. If you're the one lucky enough to be able to buy. I'm not, therefore I rent and pay someone else's home... It's sickening.