A look at past downturns

Guest perspective: Weak markets have lasted several years

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The long boom in the real estate market attracted many people into the industry, with the National Association of Realtors’ ranks growing to more than 1 million members. Because the upcycle lasted for 10-15 years in many markets, hundreds of thousands of agents have not experienced a significant down market.

By looking at down markets in the late ’80s and early ’90s, we can make some observations on past real estate declines.