In Japan, train companies can earn revenue from rents in surrounding station areas on top of fares. In CA, we can invest billions in infrastructure and subsequent spikes in nearby land/property values are captured almost wholly by the people who happen to own nearby property.
Here, read @e_jaffe: citylab.com/transportation…
.@SFBART and @Caltrain have some of the best farebox recovery ratios in North America but you really need the land rent/land value capture + density to make the #s and system work well. en.m.wikipedia.org/wiki/Farebox_r…
Attaching another discussion here:
Also housing isn’t celebrated as a primary wealth accumulation tool in Japan the way it is in the US. So the cultural expectation that houses must appreciate is not amplified & embedded by lending, tax & zoning policy at every level of govt like it is here economist.com/finance-and-ec…
