What Happens When Financing Dries Up – Land Prices Drop
Land prices are doing the “Jack and Jill” thing in Japan. Foreign firms are biting the bullet when it comes to buying land overseas = no one to push up the land prices in Japan…nationwide.
In Tokyo – Shibuya and Minato Wards see their land prices falling. Despite a close proximity to a ski resort on the northern island of Hokkaido, land prices are falling.
Buy! Buy!
Yeah, I remember when the price for some areas in Tokyo were going for $36,000 a square foot! Imagine paying that much money to just put your feet down somewhere. Not sure how much cheaper the land is now than then….
In the south, a new plant by a subsidiary of Toyota is driving some prices up, but elsewhere…Jill is chasing Jack.
Our world is more intertwined than we sometimes realize, eh?
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