Read these articles on California's previous RE downturn

[redmondjp]

There's a good post titled 'History Rhymes' at Exurban Nation today linking to a series of three articles that southern CA bubble blogger Susan Baretta wrote on the last California RE downturn from 1988 to '96:

The three-part articles can also be found on her own blog:

Good reading for those who think the roller coaster always goes up. Of course, these articles are about a land far away from here, so this does nothing to dispell the CHH (can't happen here) myth. The articles mainly focus on the human behavior/attitudes that were prevalent through this period and how they changed over time.