SomethingLlike This Has Happened Before

This is a recounting of the 15 year slump Japan went though after their real estate bubble popped.
By Jonathan Ford,Prospect magazine
Turning Japanese

...For a while, they were amply rewarded: share and real estate values rose fourfold between 1984 and 1989. It took time for the crisis to bite hard, but from 1990 share prices started a 13-year decline, punctuated by sharp rallies. Over that period they gave up all their bull market gains, and by 2002, the stock market was back where it had been in 1984. Property values also crashed. In total, the long decline wiped out ¥1,500 trillion ($14.2 trillion) of national wealth, equivalent to three years of Japanese GDP. It was the largest such loss experienced by a nation in peacetime...whole thing