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Feb 07
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Their is a quote that says “nothing is new, everything that happens today has happened before.” This is true in stock market and even in housing market.
Robert J. Shiller a professor of economics and finance at Yale and co-founder and chief economist of MacroMarkets LLC has posted an article in NYtimes detailing the history of real estate bubbles across USA.
The first real estate bubble happened in 1830s and burst in 1837
The second real estate bubble happened in 1850s and burst in 1857
The third real estate bubble happened in 1970s and burst in the early 1980s
The fourth has been the recent bubble that started in 1990s and burst in 2007
It is clear real estate bubbles have been few and far between. To read the full article visit New York Times Real Estate.