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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: damainman who wrote (59480)8/9/2006 1:42:17 PM
From: Elroy JetsonRead Replies (3) of 306849
 
What a bunch of unmitigated nonsense. .

"It is the first downturn in the 40 years since we entered the business that was not precipitated by high interest rates, a weak economy, job losses or other macroeconomic factors," -- Bob Toll

The housing price collapse in 1990 was precipitated by the collapse of bubble psychology - no suckers left to buy.

The 1990 housing price collapse was also precipitated by declining interest rates, and a robust economy.

The decline in housing prices did precipitate a recession a year later in 1991. But the recession in 1991 didn't cause the housing price collapse in 1990.



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