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A Cautionary Housing Tale from Japan October 5, 2006

Posted by Unreasonable in Matters Financial.

By 1994, housing prices continued to drift lower until some units started to become, with considerable stretching and creative financing, affordable. So that year, by taking out a two generation, 60-year mortgage — with his 16-year old son on the hook for the remaining years that he might not be able to pay — my uncle bought his first home…

Holy Crap.

::Michael Nystrom’s Blog

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