Japanese property price crash

[DimPrawn]

Japan apartment 'most expensive in the world' - Telegraph

Now has property gone up suddenly or is money being "printed" to oblivion?

[Gentile]

A friend of mine that has Japanese ancestry (his mum was Japanese and has family there) told me that housing is so expensive there that they have 100-year mortgages to pay for their homes. Debts get passed on from one generation to the next. I guess there must be some way to walk away from the deal, since you can't really agree a debt for someone that isn't even born yet. The market is also self-regulating in a way, since everybody needs to live somewhere, and if you want to move maybe you need to 'take over' the existing occupant's mortgage or similar. Quite a concept, all the same - entering into a financial agreement that will certainly outlive you.

[TimberWolf]

A friend of mine that has Japanese ancestry (his mum was Japanese and has family there) told me that housing is so expensive there that they have 100-year mortgages to pay for their homes. Debts get passed on from one generation to the next. I guess there must be some way to walk away from the deal, since you can't really agree a debt for someone that isn't even born yet. The market is also self-regulating in a way, since everybody needs to live somewhere, and if you want to move maybe you need to 'take over' the existing occupant's mortgage or similar. Quite a concept, all the same - entering into a financial agreement that will certainly outlive you.

What's sad is that multi-generational loans doesn't lead anywhere good if everyone takes them up. Everyone is back to square one, except for a massive life-long debt and legacy. The banker is rubbing his hands together with glee though, as usual, and perhaps the government are better able to control the population.