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Haruyuki Ishioh, Panasonic's director for energy solutions, said that in this view, having a housing company in its group, Pana Home, has worked significantly to Panasonic's advantage.
Korea has focused on growth-oriented policies by creating new housing units rather than maintaining or rehabilitating existing ones although having a housing stock as huge as those of other advanced nations.
Those sacrifices amounted to a very large price to pay for the sin of having a housing bubble that devastated the country's banks, and then its government when it tried to stand behind the banks.
Britain was not alone in having a housing boom; Japan and Germany have suffered far more from the recent vicious downdraft in manufacturing, as global demand for the investment goods and vehicles in which their industries specialise has evaporated.
We have to go back to having a housing stock (increasing in size as the years go by) that is well-designed, kept in good order and near schools, shops, clinics and good transport links.
Prices in Germany, which has the lowest home-ownership rate in the EU at 53%, are rising at the fastest rate since reunification, although housing is still undervalued against both rents and income.Brazil, which hosts the football World Cup in June, is also having a housing boom.
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