It's misregulation and boomerocracy eating their seed crop in societies where land is set up as an investment and most boomers put their life savings into real

It's misregulation and boomerocracy eating their seed crop in societies where land is set up as an investment and most boomers put their life savings into real estate in the 80s/90s since the stock market was not properly accessible and the dot com bust scared the rest away from it. Since the old boomers vote, are retired and thus have more free time to be political and are a large voting block, the democracies satisfy their short term needs since they need their votes to be a viable political party. Trump knows exactly what to do to fix it, but he knows it's completely politically unviable so he doesn't, and he states the entire logic in public speeches so it isn't a secret either. Japan is pretty much where you want to be wrt to land. Free market land use, but national zoning regulations and a bunch of other things to prevent housing bubbles. Japan had their 'never again' real estate bubble in the 80s & 90s, so their boomers-in-power don't want real estate to be a speculative bubble and thus at least real estate is affordable even in Tokyo even with a near 0% interest rate for a very long time. When the boomers die and millennials become the olds, they will probably implement the regulations to not allow real estate to be a bubble, because they had their 'never again' real estate bubble ruining their economic formative years in 2008 and onwards. The millennial equivalent will be index funds, which will have different deleterious effects.