In other markets, homes aren't seen as investments by anyone. For example, in Japan, homes are considered depreciating assets, like cars. Homes are abundant, su

In other markets, homes aren't seen as investments by anyone. For example, in Japan, homes are considered depreciating assets, like cars. Homes are abundant, surprisingly cheap (even in dense urban areas, like Tokyo), and regularly demolished / rebuilt. The reason for this affordability is Japan's flexible zoning laws. In America, urban areas have very strict zoning laws, which do wonders to prop up real estate prices.