>Japan hasn't yet made it easy enough to use housing costs to transfer wealth from the working class to the landlord class, whereas the US, Canada, UK, Australia, Ireland, and New Zealand have made continual increases in house prices their only consistent domestic priority.
A depressing realisation. Western governments can't seem to plan for a long-term, multi-decade strategy anymore. But they are consistent in policies of inflating asset prices by any tools available.
Wouldn’t say it’s governments, but unfortunately homeowners (which is the majority of the population in some of these, like Canada) can’t afford their house price to go down. Quite a significant amount of them rely on it as their retirement plan (sell, downsize, retire). These people will perpetually vote for people who won’t allow house prices to go down (which, kinda makes sense — “voting for your own good”).
A depressing realisation. Western governments can't seem to plan for a long-term, multi-decade strategy anymore. But they are consistent in policies of inflating asset prices by any tools available.