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Real Estate


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September 25, 2008

Japanese banks are back in the hunt for real estate

  • Compared with their U.S. counterparts, Japanese financial institutions have emerged from the subprime crisis relatively unscathed.
    • By TOMOKO A. HOSAKA
    Associated Press Writer

    TOKYO — Back in the 1980s, when Japan found itself flush with unprecedented wealth, it splurged on flashy overpriced trophies like Rockefeller Center and the Pebble Beach Golf Links.

    It was a dizzying shopping spree that left little but a bad case of buyer's regret as Japan's asset bubble burst and markets crashed in the early 1990s. Its mammoth banks retreated from the limelight, weighed down by mountains of bad loans.


     
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