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i think it is foolish to predict the bottom.
Telecom/wireless/broadband/Internet/cable boom powered the 1990s. Southern California was going to benefit sooner or later.
Unless you have something to power the economy you might not see anything to prop up prices in Southern California.
The only givens for So Cal economy 1. San Diego will be a major naval base in the Pacific given the riseof China.
2. LA will be a major port for Asia commerce.
3. lot of low skilled Mexican immigrants
4. Hollywood will be a major player in global entertainment business
