If only a single self fulfilling data point of the largest city of an insular society (requiring citizenship to buy) with falling population near the edge of recession for 30 years was representative of the world's real estate market.

Also, I'd recommend talking to people in Tokyo about the cost of living/working there (you'll find most people commute in over an hour by train) and about rising homelessness. This is with a population growth rate over the last 30 years of less than 0.5% and is EXPECTED TO RELENTLESSLY DECLINE AFTER 2020 to 2100 by 6million people.

http://worldpopulationreview.com/world-cities/tokyo-populati...

If you want some other data points on massive building increases, I offer you Beijing, Shanghai, and Shenzhen, where prices have doubled many times while the available housing has also more than doubled over less than 30 years at a more than 2.5% population growth rate.