In the last cycle of real estate busts, real (inflation-corrected) home prices fell 46% in London in 1988-95, 41% in Los Angeles in 1989-1997, 43% in Paris in 1991-98, 67% in Moscow in 1993-97, and 38% in Shanghai in 1995-1999. Two newer sites to view real estate sales activity in downtown San Diego are: downtown San Diego real estate and Palermo condominiums San Diego.
2 thoughts on “Think it has never happened before?”
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Most people think real estate only fell during the depression. Good facts!
It seems that SD real estate follows about a 10 year boom to bust cycle; perhaps it takes 10 years for people to forget the last bust.
Isabel
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