Chart 29
Past major regional home price declines have lasted for a while and been associated with weak economies.
| Metropolitan Statistical Area (home price peak) |
Home price |
Employment |
| Price decline, peak to trough (percent) |
Time to climb back to price peak (years) |
Job losses, peak to trough (percent) |
Time required to climb back to original job peak (years) |
| Boston (88:4) |
7.2 |
6 yrs |
12.7 |
8 |
| New York (89:1) |
10.0 |
11 |
10.9 |
11 |
| Los Angeles (90:3) |
21.4 |
11 |
10.0 |
8 |
| San Francisco (90:1) |
3.8 |
7 |
7.3 |
6 |
| Houston (84:1) |
23.1 |
7 |
8.3 |
3 |
| National |
No decline |
No decline |
No decline |
No decline |
Note: Home price peak is the quarter in which peak occurred.
Sources: Office of Federal Housing Enterprise Oversight, Bureau of Labor Statistics/Haver Analytics.
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