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Tokyo had THE BIGGEST property bubble in the history of the world 30 years ago: https://en.m.wikipedia.org/wiki/Japanese_asset_price_bubble https://en.m.wikiped
by onlyrealcuzzo 5y ago
Tokyo had THE BIGGEST property bubble in the history of the world 30 years ago: https://en.m.wikipedia.org/wiki/Japanese_asset_price_bubble https://en.m.wikipedia.org/wiki/Japanese_asset_price_bubble
It arguably has STILL not deflated.
At one point, the Emperor's Palace alone was worth more than all the real estate in California: https://www.scmp.com/magazines/style/news-trends/article/3091222/japan-1980s-when-tokyos-imperial-palace-was-worth-more https://www.scmp.com/magazines/style/news-trends/article/309...
I guess if you believe those valuations made sense, then sure.
- presentation 5y agoEven so, normal people can and do buy property in close proximity to the city center all the time, and cheap rent spots are easy to come by. Minato-ku was definitely crazy overspeculated, but go 15 minutes away by train and you get an order of magnitude cheaper housing.