Are we gonna experience the same Japanese Housing Burst at 1991?

[fromnj]

I looked up the current mortgage info in Japan, and it has dramatically changed for past five years. Now, about 80% of new mortgage applications are based on some kinds of ARM.

In general, they require to have some assets to tie to the loan, so you cannot borrow a large amount of money based only on your income or credi sore.

But they may have some issues when the rate goes up.

[paranoid]

baby stan, baby kewp,
you guys are just crying babies.
why blame the chinese if it’s you who wanted and bought cheap toys. Did the chinese force you to buy their products?

BTW: did the homebuilders force homebuyers to use ARM, option, negative amortizing mortgage to buy the homes they cannot afford?

Babies, it’s time to blame yourselves for all the troubles you are in!

[paranoid]

baby stan, baby kewp,
you guys are just crying babies.
why blame the chinese if it’s you who wanted and bought cheap toys. Did the chinese force you to buy their products?

BTW: did the homebuilders force homebuyers to use ARM, option, negative amortizing mortgage to buy the homes they cannot afford?

Babies, it’s time to blame yourselves for all the troubles you are in!

[paranoid]

baby stan, baby kewp,
you guys are just crying babies.
why blame the chinese if it’s you who wanted and bought cheap toys. Did the chinese force you to buy their products?

BTW: did the homebuilders force homebuyers to use ARM, option, negative amortizing mortgage to buy the homes they cannot afford?

Babies, it’s time to blame yourselves for all the troubles you are in!

[stansd]

I’m not blaming the Chinese at all. I actually think they are brilliant both in terms of moving their country up the economic ladder, and potentially cementing themselves as the world’s only superpower 30 years from now.

My blame is squarely laid at the foot of the irrational American consumer. The chinese are simply supplying what we want…It’s our demand for cheap crap that we can’t pay for because we don’t produce what others want (outside of their claims on our own financial vapor paper) that is to blame.

Stan

[stansd]

I’m not blaming the Chinese at all. I actually think they are brilliant both in terms of moving their country up the economic ladder, and potentially cementing themselves as the world’s only superpower 30 years from now.

My blame is squarely laid at the foot of the irrational American consumer. The chinese are simply supplying what we want…It’s our demand for cheap crap that we can’t pay for because we don’t produce what others want (outside of their claims on our own financial vapor paper) that is to blame.

Stan

[stansd]

I’m not blaming the Chinese at all. I actually think they are brilliant both in terms of moving their country up the economic ladder, and potentially cementing themselves as the world’s only superpower 30 years from now.

My blame is squarely laid at the foot of the irrational American consumer. The chinese are simply supplying what we want…It’s our demand for cheap crap that we can’t pay for because we don’t produce what others want (outside of their claims on our own financial vapor paper) that is to blame.

Stan

[kewp]

baby ‘roid,

I am in no trouble at all and don’t have a problem with high-quality goods manufactured overseas. The only things ‘made in China’ that I can recall buying this year are my Nintendo Wii and one of those MagicBullet blenders. Neither of which I have any problem with (love ’em both, actually).

However, you will not catch me dead in a WalMart!

[kewp]

baby ‘roid,

I am in no trouble at all and don’t have a problem with high-quality goods manufactured overseas. The only things ‘made in China’ that I can recall buying this year are my Nintendo Wii and one of those MagicBullet blenders. Neither of which I have any problem with (love ’em both, actually).

However, you will not catch me dead in a WalMart!

[kewp]

baby ‘roid,

I am in no trouble at all and don’t have a problem with high-quality goods manufactured overseas. The only things ‘made in China’ that I can recall buying this year are my Nintendo Wii and one of those MagicBullet blenders. Neither of which I have any problem with (love ’em both, actually).

However, you will not catch me dead in a WalMart!

[SHILOH]

There is a giant cultural difference between Japan and the US. In Japan, honor and not shaming your family are imprinted on you. Not here. It would be shameful to walk away from an obligation in Japan. I suppose eventually that will change, but saving face and not embarassing your family are very important in Japanese culture.

Also, here —bankruptcy is “forgiven” after a period of time. I don’t know – maybe in Japan it’s not?

[SHILOH]

There is a giant cultural difference between Japan and the US. In Japan, honor and not shaming your family are imprinted on you. Not here. It would be shameful to walk away from an obligation in Japan. I suppose eventually that will change, but saving face and not embarassing your family are very important in Japanese culture.

Also, here —bankruptcy is “forgiven” after a period of time. I don’t know – maybe in Japan it’s not?

[SHILOH]

There is a giant cultural difference between Japan and the US. In Japan, honor and not shaming your family are imprinted on you. Not here. It would be shameful to walk away from an obligation in Japan. I suppose eventually that will change, but saving face and not embarassing your family are very important in Japanese culture.

Also, here —bankruptcy is “forgiven” after a period of time. I don’t know – maybe in Japan it’s not?

[kewp]

As an aside, I don’t buy into this ‘China conquers the world’ meme either. Sounds alot like what Japan was supposed to do in the 80’s, which didn’t quite pan out.

Not to mention the vast majority of the population are dirt poor farmers that make our poorest look wealthy by comparison.

[kewp]

As an aside, I don’t buy into this ‘China conquers the world’ meme either. Sounds alot like what Japan was supposed to do in the 80’s, which didn’t quite pan out.

Not to mention the vast majority of the population are dirt poor farmers that make our poorest look wealthy by comparison.

[Author]

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