I have said for awhile now (a few months anyway) that just like the bubble was unsustainable the current downturn is unsustainable , we are wearing out cars computers etc.. much faster than we are buying them now , also home production in socal is now far below long term new family formation rates as well ( I know I know we were overbuilding etc… but you have to remember as well that during the 90’s we were under building for a long time as well).
Just remember everyone will twist the stats in the direction they feel will help them (even if they are only fooling themselves).
