U.S. Housing Bubble vs Japanese Housing Bubble

The U.S. Housing Bubble Comparable to the Japanese Housing Bubble 15 Years Earlier

U.S. Housing Bubble vs Japanese Housing Bubble

Note: Per m2, five-month moving average
Sources: Bloomberg; Real Estate Economic Institute, Japan; S&P, S&P/Case-Shiller® Home Price Indices, as of June 6, 2014.

Chart from The Escape from Balance Sheet Recession and the QE Trap: A Hazardous Road for the World Economy