Wednesday, January 16, 2013
BOJ says Japanese Property Prices Have Fallen too far
Bank of Japan (8301) Deputy Governor Kiyohiko Nishimura said property prices in Japan may have fallen too much in the aftermath of a real estate bubble that collapsed in the 1990s.
“In the case of Japan, property prices are too low compared to fundamentals,” Nishimura said in response to a question from the audience after delivering a paper in San Diego yesterday. Demographic changes in the country may have created too much pessimism in the housing market, he said.