When Japanese People Die, Their Land Goes Into Purgatory

Stephanomics

• Episode: When Japanese People Die, Their Land Goes Into Purgatory
• Website: Stephanomics
• Feed URL: http://feeds.bloomberg.fm/BLM8939407484
• Duration: 00:20:18
• Published: 2018-01-25 10:00

What happens to someone's land when the owner dies? In Japan, no one knows. In fact, no one knows who owns more than 10 percent of the nation's landmass -- about 16,000 square miles, equivalent to the size of Denmark. Without knowing who owns the land, it can't be sold or redeveloped -- and that limits economic growth or prevents the government from collecting taxes, at a time when Japan is already suffering from severe depopulation outside of major cities. Bloomberg reporter Yoshi Nohara discusses the issue with Scott Lanman of Bloomberg News and Daniel Moss of Bloomberg View. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com