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Politics : Politics for Pros- moderated
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To: KyrosL who wrote (772)5/9/2003 8:48:26 PM
From: Condor  Read Replies (1) of 794159
 
At the height of the Japanese bubble a decade ago the land under the Japanese Imperial palace was worth more than all the property in California.

Therein lies the danger in assuming home value is savings. The Japanese would have thought they had great savings before the drastic implosion of real estate. That economic collapse ultimately brought down the real savings for a double whammy as market investments crashed and real rates of returns on GIC's eroded to peanuts.
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