If a thing works, it works. Then corporations realized that doesn’t work to keep growing like a cancer. Queue: Make the old thing bad (by enshittification) or pour billions into ads saying no, this NEW thing is what you need now!
If a thing works, it works. Then corporations realized that doesn’t work to keep growing like a cancer. Queue: Make the old thing bad (by enshittification) or pour billions into ads saying no, this NEW thing is what you need now!
Actually, in Japan there isn’t a housing crisis because of this very truism. Real estate isn’t seen as an investment.
I think it has just as much to do with the decline in population, impacting overall demand, as it does with not seeing housing as an investment- but rather a depreciating asset.