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A Cautionary Housing Tale from Japan October 5, 2006

Posted by Unreasonable in Matters Financial.
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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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