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Jan 08 14:09 pm
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All Comments by John Lounsbury »Deep Concern About the Economy: Three Views [View article]
There have been recent housing down-turns. They just have not been as deep and as universal across the entire country. There were housing down-turns in the 1970's, from 1989 to 1994 and a more minor one from 2000 - 2003. The last was more localized to technology centers, reflecting the bursting dot.com bubble.
If you have been living in areas that escaped the previous downturns you have been fortunate. I lived in the northeast for all the previous bubbles cited and estimate that my residence lost 12%, 25% and 10%, respectively in each of the previous downturns.