The classic example is the Houston collapse of the 1980s -formerly $300,000 houses not selling at $20,000. That's the exception rather than the rule, thoughI lived throught the Houston of the 80s and it was never as bad as the stated.Here are a couple of links for those interested in the 1980's Houston collapse:http://www.neosoft.com/~sgriffin/houstonhistory/decades/history5r.htmhttp://www.homestore.com/Finance/Barr/Commentary/Comment10-03-2001.asp
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