Price of Tokyo Bay condos dropping - 2004-03-24
With the drop in the price of land overlooking Tokyo Bay, consumers who previously could not afford to acquire expensive condominiums in central Tokyo are now being lured to newly built residential buildings.

Condominiums in the heart of Tokyo can now be bought at prices as low as 50 million yen to 60 million yen, in contrast to several hundred million yen during the bubble era.

"Salarymen are now able to purchase them with a mortgage," a Sumitomo official said.
Read the full story at The Hochi Shimbun

Feb. Durable Goods Orders Jump 2.5 Pct - 2004-03-24
New orders for long-lasting U.S. factory goods climbed sharply in February as demand for aircraft soared, a government report indicated on Wednesday, with new home sales also surprisingly strong.

In a weekly report, the Mortgage Bankers Association said applications for loans to fund home purchases fell last week, by 0.8 percent. However, applications for refinancing loans edged higher and accounted for more than 60 percent of loans processed by lenders last week.
Read the full story at Reuters Asia