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I would be very surprised if the median price of a house in Tokyo is ~$250k USD. I would ballpark it more to the $500-750k USD range. My impression was that he
by uiri 10y ago
I would be very surprised if the median price of a house in Tokyo is ~$250k USD. I would ballpark it more to the $500-750k USD range.
My impression was that he had liquid assets and took on debt in order to avoid potential cashflow issues should he deplete his liquid assets.
I would hazard a guess that the value in the range of (new house, new house in Tokyo) refers to (sale of AR - $120k in debt) rather than his total net worth after the sale.
- 0x1234 10y agoPrepare to be surprised :) http://resources.realestate.co.jp/buy/what-is-the-average-price-of-a-house-or-condo-in-tokyo/ http://resources.realestate.co.jp/buy/what-is-the-average-pr... We have a mental model from the 80s. Decades of recessionary prices catches up.
- guy_c 10y ago... and don't forget a shrinking population. Accommodation in Japan is surprisingly inexpensive.