[quote=deadzone]I thought Asians were supposed to be smart?[/quote]

not any japanese real estate purchasers since
1985.

Does anyone remember the 99 year mortgage?

What’s the Difference between a 99 year mortgage
and an I/O mortgage? You know you will pay off
a 99 year mortgage. (Cue snare drums)

Seriously, Japan has been undergoing a slow painful deflation for 20 years, and investing in real estate since 83 has just been horrible.

Oh, and pretty soon now the chinese real estate bubble will implode destroying a generations wealth.