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You sir are correct: "Low unemployment of the late 1980s and large inflow of immigrants to the area helped to inflate the bubble. During the peak of the bubble the borrowing cost started increasing and the 5 year fixed mortgage reached 12.7%. Coupled with the early 90s recession, a spike in...

Sorry for my ignorance , may someone explain to me what caused these historical market price corrections in the past? How does the rapid increase in home prices today (or over the last 5 years) differ from the subsequent corrections? Thanks!