Tuesday, August 28, 2007
Over-valued real estate #5 - Boston
The bubble is about to burst in Boston. However, Bostonian homeowners are familiar with declining real estate values. The market there went through a serious bubble in the mid-1980s. It burst in 1989, and prices didn't recover for almost 10 years.
How far do prices have to fall to return to its long run trend? About 39 percent. Ouch!
Posted by Best at 1:48 PM