The housing shortage in American cities has reached crisis proportions, with a significant impact on the lives of many. A recent analysis by Up For Growth indicates that more than half of the nation’s metropolitan regions had an undersupply of homes in 2019, a figure that has doubled since 2012 and continues to grow as the nation’s population expands.
This shortage is not just a number; it represents families struggling to find affordable housing and the displacement of long-term residents. Urban areas, in particular, are feeling the pressure, with about 63% of city dwellers viewing affordable housing as a major problem. The lack of affordable housing is not only a matter of economic concern but also a social one, as it can lead to increased homelessness and exacerbate inequalities.
Meanwhile, on the other side of the globe, Japan is facing the opposite crisis as its super-ageing population and declining birthrate gradually depopulate areas, leaving millions of “akiya”, or vacant houses, in their wake.
As of October 2023, the number of empty houses in Japan exceeded nine million–that’s more than the entire population of New York City–a figure that has been steadily increasing over the years. According to figures compiled by the Ministry of Internal Affairs and Communications, 14% of all residential properties in Japan are vacant.
While in the past this phenomenon was largely associated with rural areas, today more akiya are being seen in major cities, such as Tokyo and Kyoto, and that’s a problem for a government that’s scrambling to find solutions to the many problems brought by an aging population and an alarming fall in the number of children born each year.
“This is a symptom of Japan’s population decline,” said Jeffrey Hall, a lecturer at Kanda University of International Studies in Chiba. “It’s not really a problem of building too many houses” but “a problem of not having enough people,” he said.
The trend leaves the country—whether in rural or urban areas—littered with empty properties. The financial implications are considerable, as vacant land attracts higher taxes than land with buildings, therefore discouraging property owners from demolishing old houses.
Despite these challenges, there is a growing interest, especially among foreigners, in acquiring these akiya for various purposes, including cheap accommodation, holiday homes, or as unique investments to rent out to tourists. But along with a declining population comes a declining cohort of skilled artisans who could upkeep and restore any akiya that might attract buyers. The traditional skills required to refurbish these homes are dwindling, making it a daunting task to restore them to their former glory.
Initiatives like the New Heritage venture have been renovating and renting out akiya, although the costs and efforts involved are substantial.
While the US struggles to find housing for its burgeoning population, the Japanese government faces the complex task of addressing its housing surplus while revitalizing aging rural communities and managing the economic and social impacts of a super-aged society.
