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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (61666)5/22/2006 9:59:16 PM
From: GST  Read Replies (1) | Respond to of 110194
 
In 1990 Japan, three million was nothing -- and the interest on that three million -- also nothing. That is how the Japanese could cary these properties without cash flow to service the debt. Make all the comparisons you want -- but at least make ones that have a small chance of being realistic. By the way, at the peak of the Japanese bubble Hawaii experienced the overflow -- the most expensive beachfront house? Try $60 million, sold at auction some years later for $13 million.



To: Broken_Clock who wrote (61666)5/22/2006 10:10:38 PM
From: GST  Respond to of 110194
 
Let me spell it out another way -- in Japan in 1990, the value of all real estate in Japan was 50% higher than all of the real estate in the rest of the world combined -- all of North America, South America, Europe, Asia, India, Africa and the Middle East taken together. Now THAT was a bubble. Typical mortgages ran one hundred years -- they were called multi generational loans. And the best part -- virtually free money to finance it all.


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