Hopefully America isn't about to experience the exact same thing. The similarities abound as our population grays and reproduction is at all time lows.
Japan's stock market has been trending sideways for decades. Housing values only depreciate to zero over time.
Japanese people have no way to easily invest locally. They no longer buy stocks.
Virtually, the only reason to buy stock now is for discounts (e.g., buy transportation stocks for discounts on tickets; buy grocery store stocks for discounts on food). If America is headed this way, this is what to expect.
https://data.worldbank.org/indicator/SP.DYN.TFRT.IN?location...
US net migration is declining drastically also.
https://econofact.org/the-decline-in-u-s-net-migration