The US housing system is not a market. It's mortgage socialism for the middle & upper class.https://twitter.com/dkmin/status/766436926987509760 …
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Interesting, don't know Japan. Was that system in place pre-CRE bubble in Japan?
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https://www.ft.com/content/023562e2-54a6-11e6-befd-2fc0c26b3c60 … Japan has a culture where houses depreciate like cars.
End of conversation
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