Is this a repeat of Japan 1989?

We talked about the similarities in class today. Here is an article that looks at the US now and Japan in the late 1980s, early 1990s. It is an eerily similar scenario.TheStar.com | Business | Can U.S. escape zombie economy's clutch?: "Banks were lending money and there was almost this excessive euphoria and panic that if you didn't buy a home you would be priced out of the market forever."