No, you just misunderstood my comment. I'm not disputing that Japan has a far lower homeless rate than we do, there's likely things we can learn from them (and

No, you just misunderstood my comment. I'm not disputing that Japan has a far lower homeless rate than we do, there's likely things we can learn from them (and things we can't easily transplant), and I've always been pretty radical when it comes to land economics (the notion of owning land as an asset is absurd to me, vs having a stable claim over it but no entitlement to its increase in value). I was narrowly disputing your comment's claim that depreciating housing prices is a significant driver of low homelessness rates, using an example of a big drop in housing prices causing a spike in homelessness. The example isn't perfect, since steady-state low prices have different effects from a large shock, but my point was that the connection obviously isn't this straightforward.