The prices of land adjoining the major roads have been increased by 20 or even 30% per a year in Japan. The authority explains this rise with the increased inbound. It could hardly explain it. Or even if could partially explain this rise, the inbound demand would end soon, especially after the Tokyo Olympic Games. Only quantitative easing is the main cause. The money released by easing is heading to investment to the properties.
It is an economical bubble. The banks, especially local ones, are in very hard financial condition right now due to the historically low interest rate. Bubbles are destined to be ruptured sooner or later. It is the beginning of the economical/financial collapse in our country. Our central bank, BOJ, could do little for such a situation because of its too much commitment in quantitative easing and monetization of the debt.
Now the public pension is questioned as for its sustainablity. However, it is not the only problem but the national finance is in danger of bankruptcy.
Modern monetary theory, which both right and left depend on, won't save us. It would prove there is no free lunch in the world.
I haven't expected to live in such a situation for the retirement.