One major differnce is that, from what I understand, land/housing in Japan has historically been generationally owned (very long mortgages, such as 100 years, p

One major differnce is that, from what I understand, land/housing in Japan has historically been generationally owned (very long mortgages, such as 100 years, paid off after multiple generations). That is generally quite rare in the US (not sure about EU).