September 12, 2005
"A pricing bubble occurs when we have an asset and the price soars dramatically upwards, turns at the top and falls suddenly, sometimes to the same level it starts from," said Dr. Delores Conway, director of the Casden Real Estate Economics Forecast at the Lusk Center. "But these adjustments are very rare, unless we have a major economic shock that would yield job losses. Even then prices drop over a period of years, not months."