This game has been going a long time in ca. My parents doubled their condo sales price in 1 year… That was the 70s. It bought them a nice home in mn with the proceeds. Why would this mentality change with one set back. We are talking a century of irrational exuberance. LA used to be a wasteland before the speculators and buerau of reclamation came in and remade the whole area. It’s in the cultural DNA.