Vacant Japan Homes Show Holes in Abe Stimulus Plan
Sept. 18 (Bloomberg) -- In the hilly area of Inariyato, an hour's train ride south of Tokyo, an increasing number of vacant homes exposes a flaw in Japanese Prime Minister Shinzo Abe’s plan to boost the economy by reviving the housing market.
The government's housing stimulus favors new-home purchases, boosting demand for new properties at the expense of existing homes. Home vacancy in Japan, estimated at about 18 percent nationwide, may reach 24 percent by 2028, according to the Fujitsu Research Institute. Bloomberg's Kathleen Chu reports. (Source: Bloomberg)