- First Wave: Real estate developers sell off properties to recover cash flow, new homes decrease in price, and second-hand homes are available but hard to sell. - Second Wave: Defaulting on mortgage payments and auctioning properties to suppress second-hand home prices. - Third Wave: Investors sell off second-hand homes to escape losses. - Fourth Wave: In 1992, property tax was levied, turning second-hand homes into negative assets, leading to priceless sell-offs$ETH $GUSD
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Japanese Housing Prices Fall in 4 Steps
- First Wave: Real estate developers sell off properties to recover cash flow, new homes decrease in price, and second-hand homes are available but hard to sell.
- Second Wave: Defaulting on mortgage payments and auctioning properties to suppress second-hand home prices.
- Third Wave: Investors sell off second-hand homes to escape losses.
- Fourth Wave: In 1992, property tax was levied, turning second-hand homes into negative assets, leading to priceless sell-offs$ETH $GUSD