The Big City Where Housing Is Still Affordable

Major cities in the U.S. could learn something from Tokyo. In the past 50 years, that city has added more housing than all of the units in New York City. The result? “It has remained affordable by becoming the world’s largest city. It has become the world’s largest city by remaining affordable,” according to the author. Rents are reasonable, homelessness is rare and economic opportunities are prevalent. It’s all because Tokyo responded to the need for housing by—spoiler alert—building it, particularly near transit lines. And they do it without subsidies: “A national zoning law … sharply limits the ability of local governments to impede development.” And there we have it.