- Buy now, or you'll be forever priced out!
- They're not making any more land, you know.
- We've got plenty of other investors who are interested.
And, as all bubbles go, the boom in the Land of the Rising Sun ended.
And then the prices fell.
And fell some more.
After 15 years, real estate there has still not recovered from its peak. Could we suffer the same fate? Read this fascinating tale by Michael Nystrom, who experienced that bubble first-hand.
Also, if you're interested on a comparison of that bubble to the current bubble here in the US, Britain, and Australia, take a look at this entry in Wikipedia - from "The Economist" magazine (article was actually written in June 2005!):