Tokyo actually builds a lot of new housing which accounts for why housing is affordable there. People think Tokyo is an expensive city -- and relatively speakin

Tokyo actually builds a lot of new housing which accounts for why housing is affordable there. People think Tokyo is an expensive city -- and relatively speaking it is -- but it's a lot cheaper than the small US city I'm living in now. Tokyo is a surprisingly affordable megacity because of housing availability. (gift article, no ad wall) https://www.nytimes.com/2023/09/11/opinion/editorials/tokyo-housing.html?unlocked_article_code=1.bU0.OiJk.tjZbIB7bjSmG&smid=url-share https://www.nytimes.com/2023/09/11/opinion/editorials/tokyo-... My understanding that one thing that is unique in Japan is that housing is not an investment vehicle for preserving wealth. Housing is a consumable -- not an investment, and old houses actually lose value (most prefer buying new). Part of it is due to the fact that it's earthquake prone, so houses are ephemeral anyway.