makes sense
American housing only dropped 20-40% even after 2008 meltdown
looks like once it's up, it's a bit hard to go down
for example:
A San Diego townhouse
in year 2000, price was 180K, topped out in 2005 at 500K,
as of today, it's still 400K, still expensive...
Also if you bought in year 2000, you still have over 100% profits