US vs. Japan Land Prices: Autumn 2007 Pictorial Update

It's been about a year since my last update, and once again it's time to move the arrow on my Graphical Presentation of the US Housing Bust as compared to Japan Land Prices 1980 - 2005.

• In Spring 2005 it was a Totally New Paradigm
• In Summer 2005 I called a top in as shown in US vs. Japan Land Prices Pictorial Update
• In Autumn 2006 the arrow pointed to the spot shown (now redrawn to match colors).
• In Autumn 2007 there was "Never a Better Time To Buy" as shown below.

click on chart for a sharper image

It seemed like a top was coming in Spring 2005 but that top was not confirmed until much later.
Where are we now?
Probably somewhere near that top “Never a Better Time To Buy”
It’s getting progressively harder now to figure out exactly where we are.

Two things are for sure.

• We are clearly off the top.
• We are nowhere close to the bottom.

Mike Shedlock / Mish
http://globaleconomicanalysis.blogspot.com
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