Youth's Beginning of Individual Housing Payment and Tenure Choice: New Entries to Japanese Housing Market

Takuya Ishino
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Takuya Ishino: Research Associate, Global COE Program, Graduate School of Economics, Keio University

No 2010-021, Keio/Kyoto Joint Global COE Discussion Paper Series from Keio/Kyoto Joint Global COE Program

Abstract: Purposes of this paper are to establish the model for explaining Japanese young's housing demand and to derive the implication to guide Japanese housing policy. For this, I investigate the determinants of their tenure choice, considering their housing independence from their parents. On the basis of Japanese features, I would rather regard their housing self-pay as their independence than regard their nest-leaving as their independence. Here, housing self-pay means people bear their housing cost by themselves. As a result, this paper finds the strong relationship between Japanese young's financial ability and their housing independence. Just as I thought, recent severe economic environment of Japanese young discourages them from entering housing market. This result also shows their complete dependent choice is an essential element for considering the magnitude of their housing demand. Furthermore, my findings validate Japanese housing policy of recent years.

Pages: 12 pages
Date: 2010
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