It is interesting to note, that in the 1980’s, Japan saw a flourishing real estate market, with prices rising sky high. Then, in 1989, the market crashed, and Japan scrambled to get back on its feet.
Is the U.S. going to go through the same thing?
Edward Jay Epstein has this to say about it:
Then, in late 1989, the bubble burst and real-estate prices plummeted, leaving Japan’s financial institutions saddled with toxic mortgages and facing bankruptcy.
Kind of sounds like good ‘ole America, right?
He went on to say that Japan’s real estate market ended up losing 80% of its value, despite the government’s slashing of interest rates down to zero percent.
And here we are in the middle of it, and our government will be raising taxes next year. But there’s a sure fire fix to the economic situation here – massive government cuts, lower taxes, and the end of entitlement programs. Do that, and we’ll see a tremendous economic boom.