So Cal Real Estate
Housing in Southern California is still trying to find a bottom. The
market is flooded with distressed property, a tight credit market, and
borrowers who are now more cautious than Bernie Madoff
(that is, before he had his moment of catharsis forced by the imploding
market). The one thing being missed by policy makers is that
psychology has been forever changed. That is, we now have a generation
that will never fully believe that real estate never goes down as many
in the real estate industry were telling us.
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