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both economies had extraordinarily large real estate bubbles.

Massive real estate bubble (check) -Central bank bailing out banks (check) -Bailed out banks keep bad real estate loans on their books at inflated values (check) -Government taking on higher and higher levels of debt relative to GDP (check) -Employment situation stabilizes with less secure labor force (check) -Home prices remain stagnant (check)

the United States had never witnessed a year over year drop in nationwide home prices since the Great Depression.

home prices are now back to levels last seen 8 years ago.  The lost decade is now nipping at our heels but what about two lost decades like Japan?

the U.S. has such a large number of part-time workers and many of the new jobs being added are coming in lower paying sectors signifies that our economy is not supportive of the reasons that gave us solid home prices for many decades. 

young Japanese workers, some in their late 20s or early 30s, already resigned that they would never buy a home.

The notion that housing is always a great investment runs counter to what they saw in their lives.  Will they even want to buy as many baby boomers put their larger homes on the market

many of our young households here are now coming out with massive amounts of student loan debt.

Lower incomes, more debt, and less job security.  What this translated to in Japan was stagnant home prices for 20 full years.  We are nearing our 10 year bear market anniversary in real estate so another 10 is not impossible.  What can change this?  Higher median household incomes across the nation but at a time when gas costs $4 a gallon, grocery prices are increasing, college tuition is in a bubble, and the financial system operates with no reform and exploits the bubble of the day, it is hard to see why Americans would be pushing home prices higher.

they would instead reflect the perspective or world view of some organizer telling them what their objectives should be, what they should learn, what counts as success.

Participants, for example, could experience the course as a series of lectures, and some did, but many skipped the experience. Others treated the course as project-based, creating artifacts and tangible products. Others viewed the course as conversation and community, focused on interaction with other participants.

We were, for example, criticized for offering lectures, because it did not follow good constructivist pedagogy; our response was that connectivism is not constructivism,

and that it was up to those who preferred to learn through constructivist methods to do so, but not appropriate that they would require that all other participants learn in the same way.

Openness also applies to the content of the course, and here the idea is that we want to encourage participants not only to share content they received from the course with each other (and outside the course), but also to bring into the course content they obtained from elsewhere.

Learning requires perception, not only of the thing, but also of its opposite.

In a connectivist course, for example, lurkers are seen as playing as equally important and valuable role as active participants

We also know that there are plenty of low- to no-cost learning options available to people on a daily basis, from books on nearly every academic topic at the local library and on-the-job experience, to the television programming on the National Geographic, History and Discovery channels. If learning can and does take place everywhere, there has to be a specific reason that people would be willing to spend tens of thousands of dollars and several years of their life to get it from one particular source like a college. There is, of course, and again it’s the credential, because no matter how many years I spend diligently tuned to the History Channel, I’m simply not going to get a job as a high-school history teacher with “television watching” as the core of my resume, even if I both learned and retained far more information than I ever could have in a series of college history classes.