Economies are slow-moving systems, measured in quarters and year-over-year comparisons.
People don’t just start mass layoffs because of a slow quarter. It is expensive to hire people, so you don’t just fire them if you don’t need them this week.
Also, keep in mind, the data we are getting now contains components from 4 (edited a typo) months ago.
Plus, your perception of the market is likely heavily influenced by your knowledge of San Diego, which is, as far as I can tell, pretty far ahead of the nation as far as the leaking bubble goes.
Your understanding of the market forces are pretty good, but your timing is a little fast.
