yup, that sounds about right. Recently was driving with a coworker, who lives in the greater L.A. area, and he was going on about how he’s trying to help his oldest kid get into her first home, and of course I being a piggingtonian through and through, started going through the check list of exotic mortgages causing upcoming forclosures, unsustainable prices compared to fundamentals, etc. To which he responded, yeah but the PAPERS still show prices going up a little bit in greater LA from last year…..to which I responded with…silence. Yep, the sheeple haven’t yet woken up and smelled the coffee.
