[wenc]

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-...

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.