If you didn't see this on CNBC, they asked what country has had real-estate declines 13 years in a row. I can't figure out how to make a long pause while you think about it, so I'll just answer the question. The answer is JAPAN.
Now, what is interesting about this is that the Nikkei peaked at the end of the 1980's and then the real-estate boom peaked a few years later. The money that came out of stocks went into RE until it couldn't sustain it anymore either. Does that sound familiar?
Also, the other thing I find interesting about this is that I have heard at least a hundred times from people that they "aren't making land anymore". That sure sounds great on the surface. But, if EVER there was a place where they aren't making land anymore, it would be JAPAN. You have 130M people living in a mountainous island. They are successful and they are not willing to live 10 people to a room! And, yet, even under these conditions - which would imply that every square inch would be more in demand every year from the year before, RE prices have dropped 13 straight years.
Anyone that thinks it can't happen here is dreaming, dreaming, dreaming.
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