True or False: During the Japan Bubble, one sky scraper in Tokyo was worth more than the entire state of california? I have heard a rather outlandish claim that during the peak of the real estate bubble in Japan (I think that was in the 70's and 80's), one sky scraper in Tokyo was worth more than the entire state of California! Seeing as California's economy is larger than even some entire nations, I couldn't wrap my head around how high the bubble in Japan was. Then again, it reminded me of the Dutch Tulip crisis, and we all know how expensive those flowers were... so maybe the Tokyo skyscraper claim was legit? I'm just not sure.

Question: Is this statement true? I wonder if there is any data that is readily accessible; I'd like to plot it on a line graph. Also, if the statement is true, it would be neat to know how long it lasted. Was 1 Tokyo sky scraper out valuing California a momentary apex before it all imploded, or was this the way it was for an extended period of time (months, years)?
Brian is right. The claim was that, if you took the cost per square meter of land area in Tokyo based on market rates, the Imperial Gardens in Tokyo were worth more than California. 

Source: http://articles.chicagotribune.com/1989-11-19/business/8903110641_1_land-prices-national-land-agency-rockefeller-center

Obviously, this is a classic example of a fallacy that arises from extrapolation— if that additional land area had been made available for sale, it would have significantly increased supply and caused prices to drop accordingly.