In Japan, for example, most people are actually quite satisfied with housing costs.
In recent years, rising rents and home prices driven by a severe housing shortage — coupled with elevated mortgage rates — have caused Americans' housing costs to soar to near-record levels of unaffordability.
Some experts have pointed to Japan, where housing costs are lower than peer countries, as a potential model for solutions the US could adopt.
While Japan's abundance of housing isn't entirely a positive story, when it comes to Tokyo, housing experts say there are many lessons the US could learn from its ally.
AdvertisementWhile a population slowdown could help moderate housing costs, some experts believe a substantial population decline would have big economic consequences in the long run.
Persons:
—, aren't
Organizations:
Service, Business, Housing, Gallup
Locations:
Japan, Israel, Turkey, Slovenia, Portugal, United States, Tokyo