{"id":16985,"date":"2011-09-14T09:00:32","date_gmt":"2011-09-14T16:00:32","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=16985"},"modified":"2011-09-14T08:52:25","modified_gmt":"2011-09-14T15:52:25","slug":"housing-bubbles-us-vs-japan-twelve-years-in","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2011\/09\/14\/housing-bubbles-us-vs-japan-twelve-years-in\/","title":{"rendered":"Housing Bubbles: US vs. Japan Twelve Years In"},"content":{"rendered":"<p>Nearly three years ago, <a href=\"http:\/\/seattlebubble.com\/blog\/2008\/11\/03\/comparing-the-us-and-japanese-housing-bubbles\/\" title=\"Comparing the US and Japanese Housing Bubbles\">Deejayoh posted a great comparison chart<\/a> showing how the US housing bubble compared to the housing bubble Japan experienced in the late &#8217;80s and &#8217;90s.  Let&#8217;s have an updated look at those charts.<\/p>\n<p>First up, here&#8217;s the chart of the straight-up U.S. and Japan home prices, updated through the latest 2011 data:<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/09\/Japanese-US-Housing-Bubbles_2011.png\" title=\"Comparison: Japanese &#038; US Housing Bubbles\" rel=\"lightbox[16985]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/09\/Japanese-US-Housing-Bubbles_2011-600x436.png\" style=\"border: 0;\" title=\"Comparison: Japanese &#038; US Housing Bubbles - Click to enlarge\" alt=\"Comparison: Japanese &#038; US Housing Bubbles\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>In Japan, nearly twenty years after home prices began their rapid ascent, they were right back where they started.  Twelve years into our bubble, we&#8217;re running just a little bit ahead of Japan.<\/p>\n<p>Next up, here&#8217;s the chart of inflation rates in the two nations:<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/09\/Japanese-US-Housing-Bubbles-InflationOnly_2011.png\" title=\"Comparison: Japanese &#038; US Housing Bubbles\" rel=\"lightbox[16985]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/09\/Japanese-US-Housing-Bubbles-InflationOnly_2011-600x436.png\" style=\"border: 0;\" title=\"Comparison: Japanese &#038; US Housing Bubbles - Click to enlarge\" alt=\"Comparison: Japanese &#038; US Housing Bubbles\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>As the bubble has been deflating, monetary inflation in the U.S. has been a lot higher than it was in Japan during the comparable period of their bubble.  As a result, home prices in the U.S. have actually fallen a bit faster than their Japanese counterparts when adjusted for inflation:<\/p>\n<p style=\"margin: 5px auto; width: 600px; font-size: 0.8em; text-align: center;\"><a href=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/09\/Japanese-US-Housing-Bubbles-CPI_2011.png\" title=\"Comparison: Japanese &#038; US Housing Bubbles\" rel=\"lightbox[16985]\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/seattlebubble.com\/blog\/wp-content\/uploads\/2011\/09\/Japanese-US-Housing-Bubbles-CPI_2011-600x436.png\" style=\"border: 0;\" title=\"Comparison: Japanese &#038; US Housing Bubbles - Click to enlarge\" alt=\"Comparison: Japanese &#038; US Housing Bubbles\" width=\"600\" height=\"436\" \/><\/a><\/p>\n<p>By that measure we&#8217;re four to five years ahead of Japan&#8217;s price rewind, and the nationwide index has actually dropped to <em>below<\/em> where it was in 2000.<\/p>\n<p>Here&#8217;s hoping that after repeating such a stark lesson in two decades in two nations, people have finally realized that real estate is not some kind of magical foolproof investment.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nearly three years ago, Deejayoh posted a great comparison chart showing how the US housing bubble compared to the housing bubble Japan experienced in the late &#8217;80s and &#8217;90s. Let&#8217;s have an updated look at those charts. First up, here&#8217;s the chart of the straight-up U.S. and Japan home prices, updated through the latest 2011&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[206],"tags":[86,426,436,425],"coauthors":[],"class_list":["post-16985","post","type-post","status-publish","format-standard","hentry","category-features","tag-case-shiller","tag-economist","tag-fhfa","tag-japan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Housing Bubbles: US vs. Japan Twelve Years In \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2011\/09\/14\/housing-bubbles-us-vs-japan-twelve-years-in\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Housing Bubbles: US vs. Japan Twelve Years In \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Nearly three years ago, Deejayoh posted a great comparison chart showing how the US housing bubble compared to the housing bubble Japan experienced in the late &#8217;80s and &#8217;90s. 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