Property crashed in Japan because it was always crashing in rural areas since the 70's and moving closer to main cities...a natural function of old owners finally dying (but given the great diet and work ethic - they took their time - in great respect)..but their heirs lived in central areas and sold - cheap.....and that trend gradually working itself towards the major cities and industrial areas. There were a few years where central city workers would buy in further, rabidly outside Tokyo and a few others - in far out suburban areas, and commute in....but it was only a respite for the gradual reality of estate sales which were really the overwhelming end to the bubble. Now the estate sales are happening in downtown areas...but the good news is that there are buyers in those areas too. Not so wonderful for further out and the countryside.....as beautiful as it is. But there are bargains for Japanese, young and old....surprisingly, many old - who want to 'return to nature' after decades in the cities....Hope it isn't a setup for another bubble but some countryside areas are experiencing a significant resurgence lately....Can't blame them, sell a small apartment in Tokyo, buy a cheap country hobby farm.....I can see it here...and accelerating as well....
