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From A Free Lunch To A Possible Threat To Global Credit Markets

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Guest wrongmove

From a free lunch to a possible threat to global credit markets

"Tokyo is almost cheap. It cost me £12 for dinner at a boisterous sashimi restaurant in the Ginza district, with a couple of Kirin beers.

A two-bedroom flat near the Imperial Palace costs about £200,000 ($400,000), falling to £80,000 in the suburbs. London, Paris, Oslo, and Moscow are all more expensive.

Land prices have surged 30pc in parts of Tokyo over the past year, but the national level is still 70pc below the bubble peak in 1990 - a warning to those who imagine British property cannot crash because we live on a crowded island. Land is much scarcer in Japan, not to mention Singapore and Taiwan. All three have seen house price slumps......"

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From a free lunch to a possible threat to global credit markets

"Tokyo is almost cheap. It cost me £12 for dinner at a boisterous sashimi restaurant in the Ginza district, with a couple of Kirin beers.

A two-bedroom flat near the Imperial Palace costs about £200,000 ($400,000), falling to £80,000 in the suburbs. London, Paris, Oslo, and Moscow are all more expensive.

Land prices have surged 30pc in parts of Tokyo over the past year, but the national level is still 70pc below the bubble peak in 1990 - a warning to those who imagine British property cannot crash because we live on a crowded island. Land is much scarcer in Japan, not to mention Singapore and Taiwan. All three have seen house price slumps......"

Yes, after a heated verbal exchange on house prices, there is nothing like saying to bullish uk homeowners something like :

"Land prices have surged 30pc in parts of Tokyo over the past year, but the national level is still 70pc below the bubble peak in 1990" It could happen here.

They usually have nothing to say in reply, in my experience, as it is a factual recent example (that terrifies them).

Edited by Saving For a Space Ship

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From a free lunch to a possible threat to global credit markets

"Tokyo is almost cheap. It cost me £12 for dinner at a boisterous sashimi restaurant in the Ginza district, with a couple of Kirin beers.

A two-bedroom flat near the Imperial Palace costs about £200,000 ($400,000), falling to £80,000 in the suburbs. London, Paris, Oslo, and Moscow are all more expensive.

Land prices have surged 30pc in parts of Tokyo over the past year, but the national level is still 70pc below the bubble peak in 1990 - a warning to those who imagine British property cannot crash because we live on a crowded island. Land is much scarcer in Japan, not to mention Singapore and Taiwan. All three have seen house price slumps......"

Yes good point

But

You may have an answer I havnt thought of, but

Seeing that England is so much more densily populated than Japan, with a growing population wheras Japan has a shrinking one, why is land "scarcer" in Japan?

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Guest wrongmove
Yes good point

But

You may have an answer I havnt thought of, but

Seeing that England is so much more densily populated than Japan, with a growing population wheras Japan has a shrinking one, why is land "scarcer" in Japan?

Not my point - it is the article. But I think the reason is that UK is pretty flat, whereas Japan is mainly mountains, so the percentage of developable land is different.

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