Inspired by the Akiya (Newsletter #314)

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WRITTEN BY: Brad Cartier

[Adapted from A Free House? In this Economy?]

Skim the news often enough and it’s impossible to miss the snazzy headlines touting one euro homes for sale in Spain and Italy, or even free homes in Japan. With over 15 million American homes—approximately 10% of the country’s housing inventory—vacant in 2022, it’s hard not to take notice. While a portion of that number is vacant rentals, a huge chunk is dilapidated housing. Could the U.S. apply similar tactics for community revitalization efforts and to address the country’s limited housing supply?

At first glance, it’s a dream come true for aspiring homeowners. Dig a little deeper, though, and the truth emerges: These “free” houses often come with a price tag, not just monetary but in sweat equity, patience, and cultural adaptation. And while many nations sell abandoned homes as a way to revitalize rural areas with dwindling populations, urban blight makes up a large share of the abandoned inventory in the U.S. As Natalia Gulick De Torres argues, cities are not overbuilt, but under-demolished.

Even with the differences though, the Japanese akiya phenomenon shines a light on a unique way the U.S. could address both blight and homeownership affordability.

JAPAN’s AKIYAS BY THE NUMBERS
Japan’s housing surplus is staggering. According to the most recent government data, over 8.5 million homes—or 13% of the country’s total housing stock—are classified as akiya (vacant homes). A combination of urban migration, an aging population, and shrinking family sizes drives the trend. These factors have left rural areas dotted with empty homes, many of which have been abandoned by heirs who would rather write them off than deal with maintenance, taxes, or renovation costs.