Japanification was back in the early 80s when they had generational mortgages (paid off by grand and great grand children) today japan is quite cheap.

Until recently I lived inside the Yamanote Line in Tokyo - that means deep downtown - If it was NYC it would be the center of Manhatten. My one bed loft was (and still is) about Y95k which is about $600-650 per month. Prices (of everything haven't gone up in Japan in over 20 years - even subway/train fares are the same.