Excerpt:
“In the 1990s, Japan experienced a similar housing boom/price bubble. Home prices doubled, and in the largest cities, they tripled. And then everything began to unravel. The market began to crash. That’s when the Japan government made the terrible decision to intervene.
The result?
The market correction in Japan is still dragging on to this day. Because Japan’s Ministry of Finance was so eager to keep the banks that made bad loans from going bankrupt, they virtually assured that the country would be languished in a multi-decade recession.
