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The 4.5 % rate could make things a bit more interesting at least in Socal
Has anyone given any thought to (it seems to me anyway) that no one is leaving the state ???
In 1981-4 the Auto industry left the state taking many people eastward with them,
In 1991-4 the Defense industry left the state in a big way again taking many people eastward with them,
That has to create Demand at some point, and may cause quite a bounce once things do start to turn,
Those I know will take Argument to what I say, but I have never seen the freeways or the stores so busy. I must live in a different Socal maybe.