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recent last 房地产 collapse is from 1988 --- 1989 peak. start to down and went through recession on gulf war.
It start to reach turn point around 1994 for about 7 years. then start to appreciate. but you need to carfully exam all most important events occured during timeline like Oct., 1987 market crash. 911 in 2001 and post 911, oil ,realastate and commodity boom in 21 century and ets.
This time, peak in 2005, 2006 start to sign downturn. Beginning of Aug, 2007, market reaction on subpime woe for the first time
房地产是10年的周期，听说需要5年 to see bottom
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