Comment by astrange
I'm happy to believe that flippers are mostly deluding themselves.
> Put another way, look at what empty lots sell for, and compare that to what a similar lot with a (not dilapidated) house sells for, in areas where the land values would be similar.
In Japan the first one sells for more.
Interesting. I can’t speak to how it works in other countries; in the USA so much context is loaded into home ownership. I don’t know the Japanese “sticks and carrots”.
The one factor I could imagine is if cost of land is so expensive that anyone who could afford it is going to be wanting to do a ton of customization anyway.
Are you talking about rural Japan, not just e.g. Tokyo? What systems exist in Japan that make the building worthless?