Quote:
Originally posted by SoCal911SC
It's easy to remember when you lived through it!
You see a house in your neighborhood sell for X in 1991, then that exact same house sell for X - 35% in 1996. You see that over and over again with many houses, all throughout the area, and it's not hard to spot.
It is truly amazing how many people forget an undeniable historical fact.
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What I remember most were the foreclosures. You could always spot them by the rampant weeds in the yard. After a while they started to board up the windows.
They were everywhere. In my neighborhood (nice area of Glendale, houses now selling for $800-900K) there was a foreclosure every few blocks back then.
I also remember the disinterest in real estate that had set in by 1994 or so. People didn't talk about what their home was worth, about how much so-and-so's house sold for, etc.