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> people can more easily take out a housing loan So now you have underpaid people creating a housing bubble in Tokyo and going into debt. This does succeed in
by pastProlog 12y ago
> people can more easily take out a housing loan
So now you have underpaid people creating a housing bubble in Tokyo and going into debt. This does succeed in kicking the can down the road for a few years. But when the music stops in this game of musical chairs, the crisis is actually worse.
- Animats 12y agoSo now you have underpaid people creating a housing bubble in Tokyo and going into debt. Which happened in 1989. Japan never came back fully from that. See "https://en.wikipedia.org/wiki/Japanese_asset_price_bubble" https://en.wikipedia.org/wiki/Japanese_asset_price_bubble"