The point I've made, is that demand is not just people wanting houses, it's also their ability to pay. There's some magical thinking out there that if investors build 'enough' luxury homes the poor will be able to afford homes. This is a falsehood.
I can't speak to Japan, however I don't think it ever accepted the level of homelessness that the west takes for granted. I would wager that the Japanese government builds more housing projects for the poor than the west.
how sure are you about the validity of the claim you just made? Note the link below does not include cash buyers.
https://old.reddit.com/r/toronto/comments/14zdsia/housing_pr...
The point I've made, is that demand is not just people wanting houses, it's also their ability to pay. There's some magical thinking out there that if investors build 'enough' luxury homes the poor will be able to afford homes. This is a falsehood.
I can't speak to Japan, however I don't think it ever accepted the level of homelessness that the west takes for granted. I would wager that the Japanese government builds more housing projects for the poor than the west.