{"locations":[{"code":"JPN","name":"Japan","page":"https://macroscope.is/en/country/japan/"}],"indicators":[{"id":"house_prices_nominal","title":"Nominal residential property prices","unit":"index, 2010 = 100"},{"id":"house_prices_real","title":"Real house prices","unit":"index, 2010 = 100"}],"from_year":1950,"to_year":2100,"sections":[{"id":"dyn","title":"How the indicators changed","items":[{"kind":"dynamics","indicators":["house_prices_nominal"],"text":"Nominal residential property prices: 2.32 index, 2010 = 100 in 1955 → 144.74 index, 2010 = 100 in 2025 (×62). Peak: 181.98 index, 2010 = 100 in 1991; the latest value is 20% lower. The trend broke around 1994 and 2010: +5 → −4.8 → +3.1 a year.","data":{"indicator":"house_prices_nominal","from":1955,"to":2025,"first":2.3172,"last":144.7371,"peak":{"year":1991,"value":181.9836},"breaks":[{"year":1994,"slope_before":4.96,"slope_after":-4.84},{"year":2010,"slope_before":-4.84,"slope_after":3.12}]}},{"kind":"dynamics","indicators":["house_prices_real"],"text":"Real house prices: 13.4 in 1955 → 122.6 in 2025 (×9.2). Peak: 186.5 in 1991; the latest value is 34% lower. The trend broke around 1991 and 2009: +4.4 → −4.7 → +1.7 a year.","data":{"indicator":"house_prices_real","from":1955,"to":2025,"first":13.35,"last":122.6,"peak":{"year":1991,"value":186.48},"breaks":[{"year":1991,"slope_before":4.36,"slope_after":-4.68},{"year":2009,"slope_before":-4.68,"slope_after":1.71}]}}]},{"id":"together","title":"What changed at the same time","items":[{"kind":"episode","indicators":["house_prices_nominal","house_prices_real"],"text":"The fastest rise of \"Nominal residential property prices\" was in 1980–1990: 92.12 index, 2010 = 100 → 174.55 index, 2010 = 100. Over the same years: real house prices 119.3 → 184.7.","data":{"focus":"house_prices_nominal","from":1980,"to":1990,"start":92.1154,"end":174.5473,"others":[{"id":"house_prices_real","from":1980,"to":1990,"start":119.34,"end":184.67}]}},{"kind":"last_decade","indicators":["house_prices_nominal","house_prices_real"],"text":"Over the last 10 years (2015–2025): nominal residential property prices 104.86 index, 2010 = 100 → 144.74 index, 2010 = 100; real house prices 101.2 → 122.6.","data":{"focus":"house_prices_nominal","from":2015,"to":2025,"start":104.8587,"end":144.7371,"others":[{"id":"house_prices_real","from":2015,"to":2025,"start":101.23,"end":122.6}]}}]},{"id":"links","title":"How the indicators relate","items":[{"kind":"relationship","indicators":["house_prices_nominal","house_prices_real"],"text":"Nominal residential property prices and real house prices (1955–2025, 71 years): levels are strongly related, in the same direction (r = 0.88); year-to-year changes are related too (r = 0.75). Changes line up from year to year too, which is more than a shared trend.","data":{"a":"house_prices_nominal","b":"house_prices_real","from":1955,"to":2025,"years":71,"r_levels":0.881,"r_changes":0.748,"effective_pairs_changes":28,"changes_significant":true,"lag":null}}]}],"caveat":"Moving together in time does not prove a cause: incomes, cities, education and the era itself act on many indicators at once. These observations suggest where to look, not what causes what.","view_url":"https://macroscope.is/en/chart/?c=JPN&i=house_prices_nominal,house_prices_real&from=1950&to=2100&past=1","how_to_read":"text: a ready sentence with numbers; data: the same numbers for calculations. The first indicator is the focus the others are compared with. Relationships are checked in levels (r) and in year-to-year changes (r_changes: the changes have their own linear trend removed; significance corrected for autocorrelation); lag is the shift at which changes line up best. UN errors: actual / projected − 1 for population, births and fertility, actual − projected for migration, life expectancy and mothers' age; IMF: actual − forecast. view_url opens the same view on the site."}