Housing Versus GDP - Japan, Hong Kong, the USA and China - 1980-2010

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Written By H. Pike Oliver

In a post at Seeking Alpha, Leith van Olensen called attention to the chart below which comes from HSBC's global research team.  It compares the housing markets of Japan, the United States, Hong Kong and China, and shows total residential housing value relative to GDP in Japan, Hong Kong, the United States and mainland China. Japan was the first to experience a residential bubble that peaked in 1990.  Hong Kong peaked seven years later, just before the Asian financial crisis of 1997.  By comparison, the peak reached in the USA in 2005 was much more modest, at least as a percentage of GDP.  Finally, the current rise in housing values in mainland China looks to be surpassing the magnitude of the Japenese bubble of twenty years ago.

 

H. Pike Oliver

Born and raised in the San Francisco Bay Area, H. Pike Oliver has worked on real estate development strategies and master-planned communities since the early 1970s, including nearly eight years at the Irvine Company. He resided in the City of Irvine for five years in the 1980s and nine years in the 1990s.

As the founder and sole proprietor of URBANEXUS, Oliver works on advancing equitable and sustainable real estate development and natural lands management. He is also an affiliate instructor at the Runstad Department of Real Estate at the University of Washington.

Early in his career, Oliver worked for public agencies, including the California Governor’s Office of Planning and Research where he was a principal contributor to An Urban Strategy for California. Prior to relocating to Seattle in 2013, Oliver taught real estate development at Cornell University and directed the undergraduate program in urban and regional studies. He is a member of the Urban Land Institute, the American Planning Association and a founder and emeritus member of the California Planning Roundtable.

Oliver is a graduate of the urban studies and planning program at San Francisco State University and earned a master’s degree in urban planning at UCLA.

https://urbanexus.com
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