Not sure, but it seems the conversation here is the difference between the parcel of land (land) and the infrastructure/ home on that land (property). Japan val

Not sure, but it seems the conversation here is the difference between the parcel of land (land) and the infrastructure/ home on that land (property). Japan values the land so highly compared to the total property, houses are essentially worthless but the land it sits on is the true store of value. This leads to some interesting results: very few old homes and constantly updating neighborhoods. As new residents tear down old homes that have become out of fashion, dilapidated, or just because the construction market is so efficient. And the construction technology with pre-fab components and nearly constant demand is an interesting result.