The GFC... the largest stock dump in almost a century... lasted about 12–18 months on the market. Of course, for those that sold at the bottom or weren't diversified it lasted much, much, longer... the fallout lasted longer as those who piled out of the market in fear lost a lot of equity.choclover wrote: ↑ So true. I don't know how the same special interest groups can keep chiming the same mantra when the real estate market is noticeably changing all around us. It is like the developers aren't aware of what what is happening or they believe it is just temporary. Reminds me of when we had the financial crisis in 2008 and the prediction was that it would only last 3 months and then three months later they would say, again, that it would be over in 3 months. And ten years slowly slipped by that way.
Of course, the GFC didn't help the housing market in the US helping those houses to drop. Real estate usually doesn't crash... it slowly melts... and that took 10 years or so to correct.
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