Japan's housing industry is facing the reality that it is possible to have "too much of a good thing." That's because while America's real estate industry is wrestling with a lack of availability that has caused a housing crisis, Japan has a housing crisis for the exact opposite reason. It's an oversupply of properties, not a lack of inventory, roiling Japan's housing market. According to Japan's Ministry of Internal Affairs and Communications, nearly 9,000,000 vacant properties exist in Japan.

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