Recently read an article on Japan's housing market. While land is very precious over there living space (on a much smaller footprint than in the US of course) h

Recently read an article on Japan's housing market. While land is very precious over there living space (on a much smaller footprint than in the US of course) has remained affordable in Tokyo. The author pointed to the very high flexibility of land use in Japan allowing land rights and property to more flexibly serve demand from the commercial and residential sides. Over the past two decades from what I observed the office space available to software developers has decreased. Single offices and generous cubicles have been replaced by denser setups. Full time staff has been complemented by contracted staff often working in much more cramped conditions. Some have not a fixed desk and in part working from home offices not alone to save commute time. On the wholesale side margins are getting compressed as differentiates are missing and wholesale distributors like Amazon or directly distributed branded products are eating away their share and need a lot less prime real estate. There may be local markets where commercial real estate is tight. But secular trends are not looking good.