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That isn't an honest question. The honest fact in this case is that decades of anti development activism have resulted in a huge gap between demand for housing
by m0llusk 10y ago
That isn't an honest question. The honest fact in this case is that decades of anti development activism have resulted in a huge gap between demand for housing units and available supply. If large numbers of people choosing to move to an urban area were fundamentally impossible then Tokyo and Hong Kong would have overheated and melted down a long time ago but they didn't because their rules for development are different and do not have this failing.
- cbanek 10y agoThey are both having problems: http://www.bloomberg.com/news/articles/2016-05-11/hayman-s-bass-says-hong-kong-property-market-is-in-free-fall http://www.bloomberg.com/news/articles/2016-05-11/hayman-s-b... The Japanese asset bubble is also a classic, and some would say the Japanese economy is still recovering from that these days. https://en.wikipedia.org/wiki/Japanese_asset_price_bubble https://en.wikipedia.org/wiki/Japanese_asset_price_bubble https://en.wikipedia.org/wiki/Lost_Decade_(Japan) https://en.wikipedia.org/wiki/Lost_Decade_(Japan)