>And since population growth in Japan has flatlined and gone negative it's not a big surprise to me that they don't have a ton of demand for new land/housing.

>And since population growth in Japan has flatlined and gone negative it's not a big surprise to me that they don't have a ton of demand for new land/housing. This is a myth. There's tons of demand for housing in Tokyo, and other large cities. There's no demand in small, remote towns, and the population is moving from rural areas to the big cities, plus there's more immigration, so demand hasn't fallen.