> Japanese people don't value buildings[0], only land
This is becoming true in most of the housing-is-too-expensive cities of North America. In my neighbourhood in Toronto, most houses that weren't built in the last 20 years would be torn down immediately when bought so that a new monster mansion can be built. The plot of land is worth millions- but mainly because there's such a low supply of housing.
The trick is to build tall to multiply the amount of land. Otherwise, you get the horrendous situation Silicon Valley is in.
This is becoming true in most of the housing-is-too-expensive cities of North America. In my neighbourhood in Toronto, most houses that weren't built in the last 20 years would be torn down immediately when bought so that a new monster mansion can be built. The plot of land is worth millions- but mainly because there's such a low supply of housing.
The trick is to build tall to multiply the amount of land. Otherwise, you get the horrendous situation Silicon Valley is in.