I started looking for my 1st house in 1992. The prices were about 20% down from peak. The agent pushed me to offer a house on the 1st day he showed us the house. He said house prices would go up again soon. Fortunately, I changed my mind. In 1993, foreclosed houses were everywhere. Vacant houses were owned by real estate agents or flippers. I bought my house that was pre-foreclosed and 40% off from the peak in 1993!
