Regional Home Price Declines Not Uncommon in the Past

From housing economist Tom Lawler: Sustained Regional Home Price Declines Were Not That Uncommon from the Mid-80's to the Mid-90's During any 5-year period that including any part the late 70's there were virtually no areas that experienced a drop in home prices. That isn't too surprising given the high inflation rate/nominal income growth rate of the period. What was more surprising is that for any 5-year periods ending from early 2000 (which basically means the latter half of the 1990's) to the fall of 2006 there were no MSA which experienced a drop in home prices, since those periods were......(read more)

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