US Housing Prices: A Reflection of Japan?

This chart is an unsettling illustration of the similarities between the home pricing in the USA and that of Japan shifted by 15  years. Japan's real estate peaked in 1992 and was hurting for decades after. Hopefully, similar economic stagnation is not the case for the US in years to come...

Sources:

http://www.ritholtz.com
Richard C. Koo
Nomura Research Institute, Tokyo
Real-World Economics Review, Issue # 58