[quote=temeculaguy]The only thing that doesn’t make sense is the size of the crowd that has prime jumbo loans and job losses. I’m sure there are plenty, but are there really millions? Most of the unemployed in the numbers between the good days of 5% unemployment and today’s 11% unemployment were the marginally employed and recently employed, not all but most. The demographic that takes prime jumbo’s tends to be better employed and better equipped to become re-employed, they took a hit but a smaller one thus far. Not enough for a theory, but it does raise some doubts that this comes to fruition like subprime did.[/quote]
I think you are on to something TG .
It has been the relative low end employees i.e.. Construction, manufacturing etc.. That (as usual) have taken the blunt of the lay offs, so I give this very little credibility (unless you live in Detroit or some place similar)
In SD there is a lot of Wireless communications work and that has been one of the few bright spots in communications over the last 10 years so I would not expect to see a lot of high end employees hitting the streets in SD myself.
In L.A. the entertainment industry is having record profit the last few years so I would not expect to see a lot there either.
