[quote=Diego Mamani][quote=4plexowner]after a bubble bursts, history says that people will stay away from the deflated asset class FOR A FULL GENERATION[/quote]
After the prior bubble burst in So Cal, people saw prices decline from 1990 to 1996 or 1997. But by 2002 people were already buying real estate “because it’s a great investment.” A mere 12 years had elapsed.[/quote]
I would say that by mid 1999 they were already buying and biding homes up in the L.A. area, but it was mostly pent up demand at that point, and a lot of boomers were looking for move up homes having grown tired of the first starter homes as well.
Then by 2002 there started to be a move up anxiety/envy thing happening.
Personally I think by 2015 we will be back to where we were in 1999 in the cycle.
