> Start incentivizing treating housing as, you know, a place to live rather than a financial instrument and you'll see plenty more condos.
This happens in Japan, but happens mainly as a result of:
a. No one sees real estate as a sure shot after the excess of the 80s.
b. Declining population means even Tokyo has a lot of extra housing.
c. It is easy to rebuild housing, so people rarely buy "used" homes, leaving on the land as a real estate vehicle for appreciation (the structure is overhead). Condos are almost worthless speculative assets in that sense.
This happens in Japan, but happens mainly as a result of:
a. No one sees real estate as a sure shot after the excess of the 80s.
b. Declining population means even Tokyo has a lot of extra housing.
c. It is easy to rebuild housing, so people rarely buy "used" homes, leaving on the land as a real estate vehicle for appreciation (the structure is overhead). Condos are almost worthless speculative assets in that sense.