Have there been previous double-dips in house prices?

A second round of falls in house prices would not be without precedent. There are at least eight examples of double-dips in real house prices in the international data from the past 40 years. But while, on average, the second leg of those corrections wiped off 12% from real house prices, our own forecast is for close to a 30% drop in real prices during the coming double-dip in the UK.

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