What countries besides the US have a very strong home ownership culture?
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Replying to @vgr
Japan is up there, though this is often discounted by folks in the West, whose view of Japan is excessively weighted towards Tokyo. (Where homes are still reasonably inexpensive in comparison to other global financial centers, btw.)
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I was under the impression that land had value but houses are treated more like cars are in the US -- consumables that deprecate in value. Maybe this is just outdated/wrong info? Would love to read more about the Japanese housing market, if you have any recs.
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I think that is substantially correct but doesn't necessarily drive the implications that people expect from it. Example: in the large cities the land component of a home dominates the structural component (breakdown for my condo is about 75/25).
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