Agreed. Don't forget the massive implosion of the real estate market 30 years ago that turned a whole generation off of buying property and bankrupted vast swathes of the population.
Said "breathless articles" usually just grab some "rate of price increase" chart benchmarked to the most severe recession in recent decades and start celebrating just because Tokyo also has good housing policy. But in trying to advocate for good policy elsewhere, they just end up championing national recession, international stagnation, depressed wage growth, and more.
Said "breathless articles" usually just grab some "rate of price increase" chart benchmarked to the most severe recession in recent decades and start celebrating just because Tokyo also has good housing policy. But in trying to advocate for good policy elsewhere, they just end up championing national recession, international stagnation, depressed wage growth, and more.
see charts & data etc here: https://www.conradbastable.com/essays/japans-housing-crisis-...