Still affordable to locals. The yen has devalued, and the cost of mansions (condos) have gone up, but single family homes, small apartments, etc are still similarly priced to buy, and rent is generally stable. A major difference is that if you are OK with a tiny apartment, you can get one, and it'll be something you can pay.

You can definitely see affects of the poor economy lately (lots of pawn shops popping up, replacing expensive cafes/restaurants), but housing is still reasonable for now.

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