Video Description

Australia’s housing market is, like many places in the Western world, in the midst of a crisis that feels like it will never be solved. Owning a property in an Australian city has only drifted further out of reach for most Australians in the last decade, and there are very few practical solutions on offer. Is it possible to actually unpick this situation? Japan offers a useful example. Thirty years ago, property in Tokyo was the most expensive in the world. Today, home ownership in that same city is comparatively affordable, with plenty of available stock on the market. How was this massive turnaround achieved, and how can other countries learn from the Japanese model? Matt Bevan takes a look. Subscribe: https://ab.co/3yqPOZ5 Read more here: ABC News In-depth explains the big stories, with long-form journalism from Four Corners, Foreign Correspondent, Australian Story, 7.30, If You’re Listening, Planet America, ABC News Video Lab and more. Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 For more from ABC News, click here: https://ab.co/2kxYCZY Get breaking news and livestreams from our ABC News channel:    / newsonabc   Like ABC News on Facebook:   / abcnews.au   Follow ABC News on Instagram:   / abcnews_au   Follow ABC News on Twitter:   / abcnews   Note: In most cases, our captions are auto-generated. Video Chapters: 0:00 - Tokyo's 1980s Housing Crisis 1:45 - History of Australia's Housing Crisis 4:02 - Yasuhiro Nakasone 6:11 - Toshiwo Doko 7:25 - Nakasone and Doko's Big Plan 10:53 - Japan's Housing Culture 12:06 - Australia's Challenge #ABCNewsIndepth #ABCNewsAustralia