Tuesday, Feb 20, 2007
Real Estate Boom 1.0
Japan Inc: Real Estate Boom 1.0
Compared to the real estate prices of the 1980s Bubble Economy, today's office rents are dirt cheap. Back then, a 100-dollar bill wouldn't buy the land it covered in downtown Tokyo, the Imperial Palace was worth more than California, and all of Tokyo could have bought all of the US. In theory, the Japanese could have bought the entire world by selling their archipelago. At the height of the bubble, Tokyo land prices reached $350,000 per square meter. Since that peak, prices have fallen by more than $5,000 billion, over 110 percent of Japan's GDP.
Posted by lvmreader @ 10:53 AM (161 views) Add Comment
3 Comments
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1. lvmreader said...
This article was from July 2000. I wonder what the illusory worth of Central London is. Probably worth "more than all of Eastern Europe".
2. sirgoogle said...
Ivmreader
Some parts of London are Eastern Europe (and the middle east).
In these parts all the English that can, have moved out. We should look to retake our great capital city.
3. lvmreader said...
@sirGoogle
What makes a city great is its diversity. All the great Arabian capital cities in the 9th century floruished because of trade and hence diversity.
I for one welcome any people who are here to work and to contribute.