But They Aint Makin No More of It??

Heres a little reminder for all those who believe in the falsehood that real estate always goes up because "they ain't making no more of it". This is from a densely populated chain of islands where after 13 years prices are still over 40% off of their peak of 1991...

September 21 – Bloomberg (Lindsay Whipp): “Japanese land prices declined for the 13th consecutive year as a recovery in the world's second-largest economy failed to boost the real estate sector. The average price of land fell 5.2 percent in the year ended June 30, less than the 5.6 percent drop in the previous year…”