there’s been more (70s, 00s). When it happens, it’s usually pretty fast. Sorta like someone turning off a spicket. People stop spending out of fear and to try and hold on to what they have. The downward cycle then gains momentum and people can’t keep up with payments on existing homes, much less on second homes.

The good thing is that “cash becomes king” and there is a lot of money to be made if u have low debt and cash.

My advice- get out of debt and get ready. It’s coming (it always does)