JAPAN
From Times Staff and Wire Reports
Government May Create ‘Land Bank’: The bank would buy idle real estate assets and sell them to institutions and local governments for use in public works projects, the Yomiuri newspaper reported. It would also sell to the private sector properties that are not sold to government bodies, said the paper, which did not name its sources. Japanese banks have been weakened as the drop in land prices has hurt many borrowers’ ability to repay loans.
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