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Chapter 4. Mortgages > Myth #1: Real Estate Prices Always Rise

Myth #1: Real Estate Prices Always Rise

“Buy land,” the adage goes. “They're not making any more of it.” That's true as far as it goes, but housing markets can be a lot more volatile than the saying indicates.

Ask anyone who lived in Texas, Anchorage, or Boston in the late 1980s, or Southern California from the early to mid-1990s, when home prices in those areas plunged. London and Tokyo are among the international cities that have experienced housing price crashes.


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