Well, the recession lasted, how long, 3-4 years; and some say we are still in it.
The Economy is a roller coaster ride; has been for two hundered years. It goes Up, and it goes down.
The advantage of Real Estate is that over the long term, it goes up. There has not been a seven year term when R.E. was down.
And, yes, no one CONTROLS the prices of Real Estate.
Remember, they aren't making any more of it!