Japan’s Property Prices May Have Fallen Too Much, Nishimura Says
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Bank of Japan 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.