This segment offers a good overview of the global housing downturn. Rather than thinking of it as a housing “crash” though, realists can see it as an inevitable mean reversion cycle following a massive speculative bubble.

Home Prices across America are DROPPING FAST, according to New Data from Redfin. Metros like Austin, Dallas, San Jose, Denver, and Las Vegas have some of the biggest declines in median sale price over the last 3 months. In total, there are over 180 cities where home prices are declining…

Home prices in countries like Canada, Australia, and Sweden have declined significantly over the last 6 months. This would be the 3rd global housing crash of all time. The previous two occurred in 1929 and 2007. Global crashes are worse due to the contagion effect that occurs.

Looking at data from the last global housing crash – it becomes apparent that prices started declining in September 2006. A full two years before Lehman Brothers occurred. And 3 years before foreclosures peaked. Here is a direct video link.