Maybe, but where those downturns as sharp as this one? I ask because I really do not remember the 80’s downturn and I seem to recall the 90’s one was mild.
Early 80's was really bad. What also may hurt a quick rebound is the banks have really tightned up the lending standards. Many people no longer qualify for the loans they were able to take out in the past. My local bank no longer makes loans for spec homes etc.