Key Facts
• Post-WWII, ‘group employment trains’ centralized population in Tokyo.
• By 1955, Japan faced a housing shortage of 2.7 million units.
• 1970s: Housing loans popularized during the ‘my home’ boom.
• 1950: Japan established the Housing Loan Corporation for low-interest, long-term loans.
• Housing loans became a ‘giant collection system’ for financial institutions.
• 1980s: Economic policies centralized wealth and population in Tokyo.
• Post-bubble collapse: Non-performing loans led to bank failures and job losses.
• 2000s: Koizumi administration abolished the Housing Loan Corporation.
• Non-regular employment surged due to economic mismanagement.
• Current Japan struggles with ‘no economic growth’ and weakened resilience.
Summary
Morinaga Takuro’s final work critiques Japan’s post-war economic policies, highlighting housing loans as a key factor in creating a fragile economy. The 1970s ‘my home’ boom, fueled by housing loans, centralized wealth and population in Tokyo, benefiting financial institutions. However, the bubble collapse and subsequent mismanagement, including the abolition of the Housing Loan Corporation, led to widespread job losses and a surge in non-regular employment. These policies have left Japan with stagnant economic growth and reduced resilience.
