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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: larry who wrote (4740)8/27/2002 7:02:56 PM
From: Jim McMannisRead Replies (1) of 306849
 
Larry,
RE:"I brought up Tokyo REIT bubble because everyone, even most of the brokers have never heard of the story, or the severity how the housing prices can drop. I also want to remind people that the housing price can remain high well after the stock market peaked. In the case of Tokyo, it peaked 3 years after the Nikkei peaked and went on a death spiral for 6 years and then remained in the bottom for 3 years (still counting). And I brought up AG because I want to point out that the majority won't believe that a bubble is there until after it's burst (even someone as smart as AG)."

All very good points. OTOH, when asked about this the expert talking heads on CNBC just say "it can't happen here because we have a more dynamic economy than Japan". If it does happen those talking head experts will be no where to be found or will have changed their tune after the fact.
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