US housing bubble < or > Japanese asset bubble?

[Rockemsock]

[img_assist|nid=4094|title=Japanese Asset Bubble|desc=|link=node|align=center|width=466|height=481]

I came across this listing on Wikipedia and couldn’t help but notice the graph and the text that stated prices of real estate were 1/10 to 1/100th of what they were at the peak.

Now i’m just a midget in the land of giants when it comes to economics, so could someone tell me why we are not looking at a much more severe economic downturn in our future? Especially with regard to Real Estate.

http://en.wikipedia.org/wiki/Japanese_asset_price_bubble

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