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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Mark Adams who wrote (41315)11/12/2003 2:55:08 AM
From: macavity  Read Replies (1) | Respond to of 74559
 
Japan housing stats.

since the bubble, real estate has fallen by anything north of 75% of value.
Most mortgages are under water.
But to The Japanese this is not a worry as:

i) The typical mortgage was/is 100 years when taken out - surely things would have improved by then.
ii) Interest rates are close to zero - so your can make your monthly payments.
iii) The mortgage passes on to your descendants anyway - their problem not yours.
iv) The bank you owe the money to is bankrupt - just withdraw your savings silently before it goes belly up.

How do they do it?

"Debt is a state of mind!" - macavity

-macavity



To: Mark Adams who wrote (41315)11/12/2003 2:57:52 AM
From: Mark Adams  Respond to of 74559
 
Uhhg. That dot in the 3.102 trillion would be a comma in american, so maybe 104 trillion isn't an error. And is that 4511 UK billion (pop = 60 million) the american or british billion? Maybe that IMF paper will help...



To: Mark Adams who wrote (41315)11/13/2003 11:17:25 PM
From: rz  Read Replies (3) | Respond to of 74559
 
>> Odd- where are the US stats? <<

See pages 35, 36: census.gov


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