Though the first bubble observations in the housing market were anecdotal.
One anecdote doesn’t necessarily mean anything, but if many people see the same things over a larger population/region, then it’s fair to look further into the possible causes.
We have seen some significant recessionary indicators in LA and, to a lesser extent, in SD (which is not what I expected, as LA’s housing downturn came well after ours).
I’m hearing from a number of people that business is down, lots of people going into foreclosure or struggling with bills. All is not well under the surface, but I’ll admit the mall traffic is surprisingly high.
