Guess what? Deflation has its beneficiaries, too! Japanese salarymen don’t have to commute for hours on a crowded bullet train to the ‘burbs anymore - they can afford a swanky condo right in the city.
“In the past everybody wanted to live in more fashionable and convenient downtown areas but it was too expensive,” said Takaya Endo, executive director of the residential development division at Mitsubishi Estate Co Ltd, a major real estate firm .
Deflation has changed all that — and for the better.”
