ABSTRACT
Home ownership is the basic factor in the family’s concept of wealth in Japan. Land prices in that country have increased greatly since the end of World War II. The rate of land-price increase has been overwhelming compared with that in other developed countries. It has surpassed the price-rise of goods as well as increases in the level of incomes, and the acquisition of a house and land ownership involve the acquisition of important financial assets. However, ownership of a home in Japan not only provides an asset for the present household but also secures one for the next generation which will inherit it, and involves the buildup of wealth for the family across generations.
