Reply To: Why are prices still not down a lot?

#80003
Anonymous
Participant
farstar wrote:
What happened in the early 90s in the UK? How long did the crisis last? What was the max drawdown: 20/30/40%?

Houses were in negative equity from 1989 till about 1995. May houses did not return to their
1989 price till 2000-2001.

So yes, 1994 was a very good year to purchases properties in UK. Whoever had patience to wait 5 years with cash in hand got plenty of bargains.