Prices plunged 60% in 6 years
1997 Hong Kong Housing Blowout
Prices plunged 60% in 6 years. Chart by Gus Lubin October 29, 2010
The current Hong Kong housing bubble worries were renewed this week when prices passed the 1997 peak, and you can see what happened after the 1997 peak.
History, Charts & Curated Readings
"History, real solemn history, I cannot be interested in.... I read it a little as a duty; but it tells me nothing that does not either vex or weary me. The quarrels of popes and kings, with wars and pestilences in every page; the men all so good for nothing, and hardly any women at all - it is very tiresome." Jane Austen spoken by Catherine Morland in 'Northanger Abbey'
"Progress, far from consisting in change, depends on retentiveness. When change is absolute there remains no being to improve and no direction is set for possible improvement; and when experience is not retained, as among savages, infancy is perpetual. Those who cannot remember the past are condemned to repeat it." George Santayana Vol. I, Reason in Common Sense