Appraiser & Appraisal Expert Witness Blog

Thought this article would be of interest. 

Summary:  The real estate Bubble first peaked in 1926, collapsed and partially recovered until 1929.  From 1929 to 1932, real estate prices declined by 74%.  During that turmoil, stocks outperformed real estate nearly 5 fold as an investment because it took nearly 40 years for real estate markets to recover.

Here is the link:  Great Depression Real Estate Price Bubble and Collapse.pdf