Yeah, and they sold it back for 1/2 of what they paid.
I don't think you want to start talking about how Japan is going to take all our jobs after they just came out of 15 years of on and off recession.
You are correct. I have no fear of Japan.
Their recession/no growth problem has everything to do with demographics and nothing whatever to do with assets owned.
And in 50 years, Japan will not exist as a nation because they are seriously under the necessary reproduction rate, have been for 20 years, and are Xenophobic about furriners gaining citizenship.
But look carefully at Japan's assets. They are (barely) the largest holder of T-Bonds and T-Bills in the world, next is PRChina. They STILL hold more US real estate than any other foreign entity.
But they ARE history.