Mike Cecchini
Aug 30, 20221 min
A Forty (40) Year Non-Fiction History
Curated by Michael Gorkowski
Aside from the unprecedented events of the great recession U.S. Residential Housing Prices have continued to climb for more than 40 years.(1)(2)
We have endured six (6) U.S. recessions with negative GDP growth, global geo-political turmoil, an attempted assassination on our president, two wars, a global financial crises, and a global pandemic during this time.
Despite these headwinds, housing prices continued their upward trajectory in steady fashion:
This is the period of the Great Recession that lasted 18 months from Dec. 2007 - June 2009. Housing prices recovered to pre-recession prices fully 5 years and 1 month later when the median home price hit $258,400 in Q1 of 2013.
Going back to the 1980s below when rates topped out at 18.53% on Oct. 16, 1981 home prices still continued to appreciate.
Recessions and negative GDP growth since 1980(3)
Feb. 2020 - April 2020, 2 months in duration, -19.2% GDP, COVID19 Pandemic
Dec. 2007 - June 2009, 1 yera 6months, -5.1% GDP, The Great Recession
Mar. 2001 - Nov. 2001, 8 months, -.3% GDP, World Trade Center Attacks Sept. 11, 2001
Jul. 1990 - Mar. 1991, 8 months, -1.4% GDP, Persian Gulf War
Dec. 2007 - June 2009, 1 yr 6months, -5.1% GDP, DP, U.S. President Ronald Reagan Shot
Jan. 1980 - Jul. 1980, 6 months, -2.2% GDP, 66 U.S. Hostages Held by Iran
(1) FRED Economic Data, St. Louis Fed fred.stlouisfed.org/series/mspus
(2) FreddieMac Primary Mortgage Market Survey freddiemac.com/pmms
(3) Source: wikipedia.org