Real estate is not immune to market conditions. If history of foreclosure is anything to go by, real estate, same as mere mortals are affected by constant ups and downs of economy. The US foreclosure story goes back to early 1930’s. The Great Depression hit US with resounding crash of the Wall Street Crash in October, 1929. Sweeping like unstoppable wave it bowled over US economy, crushing employment, housing and bank markets.
Read the original here:History of Foreclosures and Bank REOs Going Back to The 1930’s
