2022
DOI: 10.1111/caje.12631
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Commercial‐to‐residential land‐use conversion and residential recentralization in large cities

Abstract: I examine the long‐term impact of a real estate bubble on the land‐use patterns of Tokyo and Osaka from 1980 to 2003 and find that fluctuations in land prices reflected changing demand for commercial land relative to that for residential land, which, in turn, affected housing supply and residential location choices. During the real estate bubble, land developers favored commercial over residential development because the perceived productive value of commercial land increased sharply. Thus, daytime population … Show more

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