Steve ,
The chart I posted was in relation to your example of your landlord and the timeframe that you proffered . The point being that she shouldn't have lost money if the house was in one of the major cities .
As you have provided no other detail , we can only surmise that it wasn't a very good investment ( criteria wise ) in the first place , hence your landlord lost a bit of money .
Here's a chart showing property over 30 years . I hope you can find some cycles in there .
Btw .You didn't get back to me on the source of your statement that property investors only hold for ' four or five years '.
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