If i am not mistaken, some dallas area & oklahoma RE has still not recovered its pre-oil bust values. SoCal & Boston took roughly seven years to recover to 1990 values. this things seem to take at least a business cycle to recover once they burst. Those periods, however, did not have the same...
Real culprits; BOJ & MOF. Printing money faster than it can be spent is a bad thing. Taking that money and buying 3.5% to 4.5% us t-notes is even worse. That money printed over the past several years has found its way into every hedge fund and bank portfolio in the world. not enough good...