Friday, February 29, 2008
A reminder of how long it took to recover from the last crash!
I have been doing a historic web search for old web articles on the last crash. My first recollection of the internet was about 1991 and I can't find anything going back that far as the web was still Geek toy then and estate agents and their media friends hadn't worked out how to use it at that stage. But I did find this nice article from 1995 reciting the history of the previous crash. Last time it took sellers 5 years to escape the negative equity trap, this time it will be longer because the boom was longer