What will be growth in demand for owner-occupied units

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Suppose that the annual growth in real income in Japan is expected to be between 2 and 3 percent and that income elasticity of demand for housing in Tokyo is estimated to be between 0.8 and 1.0 for rental units and between 0.7 and 1.5 for owner-occupied housing.

What will be the growth in demand for rental units over the next 10 years?

What will be the growth in demand for owner-occupied units over the next 10 years?

Reference no: EM13878328

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