It started in 1989 when Bush-1 started the unwinding of the defense spending that Reagan started (once the cold war ended).
It hit bottom in about 1994 after the Northridge earthquake (at least in L.A.), took until about 1999 to fully recover.
But IMO we are still early (about 1985) and it may not end the same way (unless we get world peace LOL).
They just started the B-3 in North LA so that will create a lot of good paying jobs (dang it should have bought something in Palmdale).
IMO the current high prices in Housing has a lot more to do with a lack of interest by millennials in the construction trade (or any manual labor trade), and at the same time millennials coming of age to start households. Construction was seem as a good Trade to be in back in the 80’s for the boomers.
IMO it has a lot more to do with the above than anything the Fed ever did etc…
