Employment won’t stay okay. Most of the job growth in the last several years has been related to the housing boom. That boom is slowing rapidly and those jobs will start to dry up. A lot of the major mortgage broker firms in the OC have been laying people off in the past several months (Ameriquest being the most well known). Even the indirect jobs in consumer and retail sectors (nice restaurants, clothing boutiques) will start to close when the Heloc money isn’t flowing anymore.