In real terms, housing prices after the burst of the housing bubble fell on average by:

A) 10%
B) 20%
C) 40%
D) 50%

Housing Prices

denote the value assigned to residential properties and homes, which fluctuate based on factors like location, demand, economic conditions, and interest rates.

Housing Bubble

An economic condition characterized by rapid increases in the valuations of real property until they reach unsustainable levels followed by a sharp decline.

Real Terms

Values adjusted for inflation, reflecting the actual purchasing power.