A report in Sunday's Nikkei says that Japanese banks property lending hit a record high in 2018

A that is leading to "anxiety at the Bank of Japan". It goes on:

  • Outstanding real estate financing from domestic banks … highest on record and the fourth consecutive annual increase
  • may have pushed one of the central bank's key indicators of financial overheating into warning territory
  • One of the early warning signs for the BOJ would be if real estate lending as a percentage of gross domestic product deviated from the long-term trend. That may be starting to happen.

Link above has more