FRED shows housing prices in aggregate rising in Japan https://fred.stlouisfed.org/series/QJPN628BIS https://fred.stlouisfed.org/series/QJPN628BIS If a growin

FRED shows housing prices in aggregate rising in Japan https://fred.stlouisfed.org/series/QJPN628BIS https://fred.stlouisfed.org/series/QJPN628BIS If a growing region is declining, I would expect building to be outpacing growth, or a cultural trend away from wanting to own (reduction in demand for purchasing despite growing population)