Japan does not culturally treat housing and homeownership as a store of wealth the way America has for most of a century and as a result, all of its downstream policies like taxation, subsidies, zoning, etc. don’t enable housing to appreciate disproportionately faster than wages.https://twitter.com/hblodget/status/1133539607264550914 …
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Fair enough. We've obviously gone crazy big on the whole concept in the last 50 years in the US, in a way that seems way more overboard than what happened during and after the New Deal.
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