Change is in the air, and the cherry blossoms are in peak bloom this weekend in Tokyo. Rumors and opinion pieces about cancelling or postponing the Tokyo Olympics have reached a boiling point in the English-language media. Just not for the anti-capitalist reasons that anti-Olympic activists have campaigned for in the past half a decade.
I thought this Washington Post analysis by Rick Maese and Simon Denyer was the most comprehensive. I would have thought that postponing the Olympics would be the likely way out, but the logistics of doing so might be even more painful than a cancellation:
The Olympics media operation will be headquartered at the Tokyo Big Sight, which serves as the city’s major convention space. Delaying the Games means an important Tokyo facility would be unavailable indefinitely. The city-owned venue normally hosts 300 exhibitions every year.
At the conclusion of the Games, the Olympic Village is expected to be converted into more than 5,600 condominiums, housing 12,000 people. Real estate companies have listed 940 units for sale thus far and have received more than 2,200 applications, with some apartments already sold, said Mika Kiyomoto, spokeswoman for Mitsui Fudosan, one of 10 developers of the project.
Asked what options buyers who have purchased a property would have in case of a postponement or cancellation of the Games, Kiyomoto declined to comment, citing the confidentiality of individual contracts.
The Olympic Village apartments overlook Tokyo Bay, and are hella swanky. Look at this news report by Tokyo MX from July 2019:
Apparently it takes around 20 minutes to get to the nearest metro station (on the Toei Oedo Line) from these condos, which cost over a hundred million yen for a unit. Would that be enough of a reason to back out of the transaction?