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This is also my conclusion, in the same way that if you get into a fender-bender there, you junk the car because it's dishonorable to drive the car after you got into a [minor] accident.

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Really? Wow! So different. Although with repair cost and complexity increasing, many more cars are totaled / written off than used to be here in the US. Particularly EV’s.

I heard houses were a depreciating asset in Japan too.

Funny how cultures are different.

I remember seeing ads for $250 Maaco specials as a kid. They'd paint the whole car for that, although I can't imagine it'd be a good job.

A budget paint job on a single panel is up to $750 now.

The reason houses in Japan are such a depreciating asset is due to the population collapse. It's estimated there is a surplus of about 10 million houses.

That and culturally no one wants a 'used' house. They don't appreciate because a buyer is expected to tear down the old one, and so it's just in the way. [https://www.theguardian.com/cities/2017/nov/16/japan-reusabl...]

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