I just found this concerning the Economist/Case-Shiller chart I referenced.
The term “Urban land prices” is misleading as the Japanese report RE values differently than we do. If you check out this explanation of the Japan Urban Land Prices report:
it appears they look at the value of the land under a house or CR building in reporting (they seperate the value of the building out). So the Case-Shiller chart is not comparing US houses to Japanese raw land per-se. It’s comparing the closest apples to apples report available.
