The Phaserl


Variable-Rate World, Part 4: Japan’s Home Buyers Up In ARMS

by John Rubino, Dollar Collapse:

Everyone knows that Japan deeply is in debt and one way or another is going to suffer for it. But for those who thought the story couldn’t get any worse, well, the creativity of the financial repressors never ceases to amaze.

It turns out that, in addition to a government that borrows way too much money at unnaturally low rates — guaranteeing that rates can never be allowed to rise because the cost of paying even 2% interest would bankrupt the country — Japan’s homeowners have discovered the joys of adjustable-rate mortgages:

Japanese homebuyers are piling into floating-rate mortgages, stirring debate over whether they are too complacent as Bank of Japan stimulus revives inflation.

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