> You can either have private equity buying up foreclosed homes and house flipping tv shows or housing being used as housing that most people can afford. Americ

> You can either have private equity buying up foreclosed homes and house flipping tv shows or housing being used as housing that most people can afford. America chooses the former, Japan, the latter. Even in very expensive markets like Silicon Valley, foreclosures are typically less than 1% of total home sales. Homes are not a speculative investment either. Recent studies have shown investing in housing to be safer than investing in stocks, but with similar returns, over a time period stretching back to 1870: https://marginalrevolution.com/marginalrevolution/2019/03/the-case-for-real-estate-as-investment.html https://marginalrevolution.com/marginalrevolution/2019/03/th...