Conclusion: Policy Implications and Future Research

First, this chapter describes policy implications derived from an economic analysis of the Japanese housing market from four points of view: (1) changes in real estate prices and the impacts on the macro economy; (2) the relationship between housing type and economic welfare; (3) an economic analysis of earthquake risk and the real estate market; and (4) the change in household behavior after the 2011 Tohoku earthquake and tsunami. Next, this chapter describes future research topics from three points of view: (i) Designing a Housing Finance System, (ii) Liquidity and Provision in the Rental Housing Market, (iii) Earthquake Risk and Disaster Prevention Polies.