hereward the wake
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From the FT
Older readers may remember the property boom which engulfed Tokyo from about 1986 to 1991. The apocryphal statistic was that land under the Imperial Palace was worth about as much as the state of California.
The bursting of that bubble — as well as one in the stock market fuelled by loose monetary policy, financial speculation, corporate cross-holding and dodgy accounting — was followed by the Japanese economic stagnation that persists to this day.
What many readers may not realise, however, is that housing in parts of London is now more expensive than for Tokyo at the peak of that boom.
Nothing to worry about...
That apple on the head must have hurt