I found a post from sdrealtor, writing that the UCLA Anderson group missed the 1990’s price bust too. They said prices couldn’t go down.
Submitted by sdrealtor on April 3, 2006 – 9:42pm.
If most people in SD sold who would buy their houses?As for the minds at Anderson/UCLA my favorite story comes from a colleague of mine. Those brilliant minds made a presentation to his company 2 months before the last crash in the early 1990’s and said that CA was recession proof and that real estate never went down. Unfortunately, he listened to them and lost everything he had. He’s still trying to recover.
