> housing are quite cheap for a developed country
you must be joking.
you must be joking.
And my God, the construction, convenience, and technology of Japanese houses beats the living crap out of the shoddy construction you see in the Bay Area. Do you get less usable land square-meters wise to some degree? Sure. But if you can concede some of that, the deal is way better because of the quality of life you can achieve.
That's how the empire works.
I'm interested in Japanese houses because I want to live in it like a regular human being, for today. I'm not inerested in buying a house in San Jose because I have moral and ethical beliefs against propping up the housing-as-an-investment industry as if I'm some kind of investor.
1. Depopulation
2. Efficient zoning laws
3. Rapid depreciation of home value over time due to natural risks(earthquake etc) and cultural norms
Tokyo has been growing at a much faster rate than NY or LA.