Market Conditions in Edison>Question Details

Sak, Both Buyer and Seller in 08830

do you see any similarity between japanese housing bubble burst and current one in US ?

Asked by Sak, 08830 Wed May 6, 2009

in japan house prices were steady through 70s and 80s.
they more than doubled from 87 to 91.
in 91 bubble got burst and prices dropped back to 75 levels and have stayed there ever since.
it took 10 years of continuous drop to bring prices back.
the mortgage interest rate has gone down in the range of 2-3%.

now coming to US, housing prices were pretty steady through 80s and 90s.
they more than doubled from 2001 to 2006.
in 2007 the bubble got burst and ...

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Answers

1
look at the graphs in this article

http://www.economist.com/finance/displayStory.cfm?story_id=1…

the resemblance is amazing
0 votes Thank Flag Link Thu May 7, 2009
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