the old Emperor's Palace defence again.
Check the source of the graph and what it graphs.
and stop to think how severely and chronically Japanese real estate has suffered, despite the country being the bank to the world.
The west is now in more dire circumstances than Japan was in in the 90s. To keep arguing Western property markets cannot experience a similar fate is unfounded.
In fact, cheap credit from the BOJ was directly responsible for much of the asset price inflation in the west. As that gets withdrawn, let's see how the cards fall.
Ah Winston your a flower in a desert. Not a *****ly cactus like me