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7 years would be more accurate, as 2009 was well after the bust. one house I had in 2002 went from $600k, to $2m in 2007, sold at $1.55 in 2010, and still currently sitting at $1.55 another went from $280 in 2004 to $500 in 2006 to $280 now. it's really all over the shop

opening up the credit market to foreign lenders may be the next leg up for property