🏡While the US faces a shortage of homes, Japan is experiencing a different issue: There's a glut of unoccupied homes throughout the country's rural areas.
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These abandoned houses have created "ghost villages" in Japan's rural prefectures where homes can neither be filled nor knocked down.
In some areas, nearly one out of every five homes is empty.
insider.com/japan-ghost-to…
💸 The government is offering incentives like $500 homes and tax breaks to entice residents to move from urban centers into rural areas.
But it might not be enough.
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While moving to small towns creates cultural divides and bureaucratic difficulties, the issue is also linked to the birthrate in Japan, which has been on a downward trend since the '70s. 📉
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30 years ago, there was a lot of economic activity in the Japanese countryside.
But the yen kept rising until April 1995, hollowing out the countryside and creating a rust belt area like Ohio's.
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📊Japan has the highest vacancy rates of the 37 countries surveyed in a May report.
Nationally, it has a 14% vacancy rate.
In rural areas, that number spikes to 16% or higher.
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The imbalance between rural and urban Japan has been recognized by the government since the '70s.
Prime Minister Yoshihide Suga prioritized rural revitalization when he took office in September.
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Some regional governments offer renovation subsidies or tax relief measures where buyers pay 1/6 of the annual property tax.
Others launched websites listing akiya for 50,000 yen — $455. 💴
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For some, like Wakayama resident Uchiyama Seichi, the abundant land is the appeal to move to rural towns. 🌿
But to others, the prefecture is known for something else: just how rural it is.
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Still, despite government incentives and an increased interest in teleworking, the pandemic's crippling effect on the tourism sector of Suga's rural revitalization plan makes repopulation unlikely, said McMorran, the NUS professor.
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