The Japanese are very different in terms of Chinese or Indians coming to live in America. Outside of Japan, the largest Japanese population is actually in Brazil.
If you look around Asian communities, there are actually very few Japanese people in general compared to the other Asian ethnic races. There is just not a huge desire to “leave” Japan compared to people living in China or India.
There are a fair amount of Japanese in LA, but those tend to be from Hawaii I think so they are already Americanized.
With such a large and upcoming middle class growing in China, and a strong desire to send their kids to the US for college (India too), etc…which in turn allows the kids to get jobs here and and eventually have their parents move over, this will put upward pressure on various communities that these people desire to live in. I think in this type of low interest rate environment, real estate in prime areas seems like a better long term hold just due to the demographics of people buying/moving in certain areas.
Prices sound very silly to us here in SD, but compared to places in metro areas in China, Hong Kong, Europe, and the bay area, it’s still pretty affordable for what you get.