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06-29-2008, 03:13 AM
Like MMM said, the further you are from major metro areas, the better the pricing is. However there are some areas that are cheaper than others. Be wary..
My In-laws home is in Hadano. They paid the equivalent of $500,000 when they bought their house in the 1980s. Now the 1800sqft (estimated) house is worth less than $200,000. One really big reason is because it is a neighborhood populated mainly by Koreans.
To be bluntly honest, there isn't a dang thing wrong with the neighborhood its is simply that most Japanese don't want to live in a primarily Korean neighborhood. For some reason, my In-Laws either were unaware of this or they didn't know it was a Korean neighborhood to begin with. Either way, they're screwed from a financial standpoint.
The bursting of the real estate bubble did have a lot to do with the price but many other "non-Korean" neighborhoods have recovered in that area...
Because their real estate nest egg imploded, it is very possible that both of my In-Laws will be coming to live with me in the next decade or so. I hope they like Texas.
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