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this post was submitted on 06 Oct 2023
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yeah, to be clear: capsule hotels in japan are not meant to be long term stays, they're for busy business people that need a quick place to sleep for ONE night because they worked till late at night and missed the last train, or similar situations like that. Nobody actually lives in a capsule hotel
EDIT: to clarify, some people may live in a capsule hotel, but they're not designed for long-term living
There have to be people living in capsule hotels in Japan. There are people in Japan living in computer cafes, where the lights are on 24/7. Japan isn't all sunshine and roses. Tons of people barely hanging on and these cheap ass places let them have at least some sort of dignity. If you work any job in Japan, odds are you'll have a roof over your head. Same can't be said in the US, where many homeless people have jobs and can't afford to be protected from the elements.
I mean.
It's really sad that someone had the thought process of, "I bet we can convince people to live in these fucking things". An despite this small bump in the road, it is seemingly working.
It's disgusting how many people will leverage housing costs (especially in San Francisco) against their fellow (hu)man.
And living this way isn't new there, either, it's an "evolution".
I can recall a story over a decade ago about google employees renting uhaul trucks to live in, parked on the google campus parking lots. The same article also followed some engineers who were illegally living in rent-a-storage spaces.
So compared to that, it makes these pods look like luxury living, even though they're all pretty depraved.
Being a software dev myself, I'll gladly take a lower salary in a low cost-of-living city if it means I can own a house (and not be mortgage poor, either).
All valid points. Thanks for mentioning, "mortgage poor". It's amazing how many people think that's the solution to rent....when you're typically agreeing to pay, essentially rent, for 30 years.
An everyone who gets a mortgage, with rare exception, OF COURSE, believes it will be paid off well before they are anywhere near 30 years. Seemingly forgetting that health issues, social issues, weather events, etc are likely going to stop that from happening.
This post just keeps getting more bleak, lol....
The advantage is it’s usually cheaper than rent, and you don’t have a landLORD to come and harass you or deny maintenance requests. Of course, people managed to fuck it up with HOAs though.
Yeah, I love looking at homes or lots of land for sale (rarely, for is depressing, ha), find something appealing (though generally still unaffordable), proceed to search for the address and wham-o! - HOA with monthly to annual fee. Plus bonus stipulations of what you can/cannot do to both the interior/exterior.
30 years of payments. Mostly consistent, during that time, the money is going towards paying off the loan of an asset and building equity. In the long term, I'll have something to show for the money I spent. 30 years of rent, on the other hand, and I'll still be renting.
If I decide to move, or something comes up, I have an asset I can leverage. Or I can sell the house, pay off the mortgage and have cash to use for rentals or a new house.
It comes with a lot more responsibility though. It's on me to maintain the house, upgrade, fix, landscape, etc. That's where a ton of money goes to keep the value of the house. I also have more liability. If something happens, that's my house that could burn down or flood. Then I'd be screwed. Or if I were to get sued, that's an asset that would be used to settle that.
There is no mistaking that 30 years is likely the minimum time to make payments. Those super lucky might put extra money into it early. But there is also a good chance people take a second mortgage or refinance and extend the mortgage with lower payments at some point.
But even with that, it's still a more sound investment for those that want a house than renting a house.
I did my internship in San Jose. Even back then it made sense. The cost was insane and from what I am reading has more than doubled since that point. I knew three interns staying in a single cheap motel together.
They need to finally start building.
I've stayed in one in Osaka. You don't have access to clothes or belongings during your stay. It's a lot like staying on a space ship without the travel.
Well, neither are these, but people are using them that way.
But housing in japan isnt that expensive compared to the US.
yeah seriously, I looked at rent prices in chicago and what you can get for 1000 dollars in tokyo in a decent area not too far away from the city you can pay 3000 for in chicago, in most places and if you go to kawasaki or something make it 500.
Be warned tho, one thing that sucks about renting in japan is the initial costs, you're basically expected to pay 6-9 months rent in advance ("key money" + "agency fee" + "guarantor fee" + deposit) when you rent and if you move you only get the deposit back (usually 1 to 2 months) which is bullshit.