Replies to post #153523 on Zeev's Turnips Patch-No Politics (ZEEV)

[Newly2b]

Hi, Benj,

Here in the So. Calif. real estate market, the slowdown in sales began in mid-'89, but prices didn't begin to slide until about a year later. Then the price decline accelerated roughly through '93 (at its height, asking prices for a $250-275K home were dropping $10K/month, and it still took 6 months to a year to attract a buyer). Prices finally stabilized after that until the current runup began around '97 or so.

I am going by memory and personal experience here, but I'd estimate the drop took 4 years, stabilizing prices 3 years (great time to buy), price rise back to high 4 years -- roughly total of 11 years to complete the cycle high/low/high.

Newly