1. In the 1980′s and early 1990′s there was a great construction boom in Tokyo. Land was sold at USD 3,000 per sq foot. Everyone was rushing to buy expensive land because the market for apartments and office space seem to be forever.
2. Then suddenly the market dried up. The boom became bust. Since then Japan has not been able to really recover.
3. It was the same with Hong Kong. The economy collapsed because of overbuilding.