Not that Japan would be an exact repeat this time around for property prices, but if we were to look at a developed nation that has gone through a housing bubble in the past, this is not encouraging.
3 comments:
Anonymous
said...
Japan in 1990 was way different from US now. Their internal economy was functioning a little bit differently than ours. With the construction industry and unions having a stranglehold on the politics in that country, they spent way too much concreting over the country side.
I'd like to see those numbers relative to income, so we can compare the relative size of the Japanese urban land prices bubble against the US housing bubble.
I think it might also be significant that the US housing bubble is mostly centered around domestic housing prices, rather than commercial real estate as was the case in Japan. What do you think, Captain?
Yes, you're correct. There were many things different between Japan then and most of the western world now, but I don't have the time to research it now a days.
I'm hoping to scale back ops here in about 3 months.
3 comments:
Japan in 1990 was way different from US now. Their internal economy was functioning a little bit differently than ours. With the construction industry and unions having a stranglehold on the politics in that country, they spent way too much concreting over the country side.
I'd like to see those numbers relative to income, so we can compare the relative size of the Japanese urban land prices bubble against the US housing bubble.
I think it might also be significant that the US housing bubble is mostly centered around domestic housing prices, rather than commercial real estate as was the case in Japan. What do you think, Captain?
Yes, you're correct. There were many things different between Japan then and most of the western world now, but I don't have the time to research it now a days.
I'm hoping to scale back ops here in about 3 months.
Post a Comment