Acknowledge the concern of a global economic event, but the big...

Acknowledge the concern of a global economic event, but the big drop peak to trough on that table of -11.6% was actually during the backdrop of "the recession we had to have".

There's a few different factors to consider this cycle but is that enough to drive a 20-40% drop? Given that a recession/rising unemployement is hardly a given yet at this stage.

(Note though that it took 5 years after that 89-91 drop before property got back to peaks. so 7.5 years before any kind of growth.)