This line crackps me up: “Further, the situation in Los Angeles does not come close to what happened in the 1990s recession caused by the demise of the defense industry, followed by the Rodney King riots, fires, earthquakes and floods.
A lot of Realtors in this area are disillusioned. They think LA is invincible, impervious to economic downturn because stars live here.
As I have stated several times, I have to agree, this time is different. This time the layoffs will be caused by housing, which will drive sales and prices down harder. Countrywide HQ are right near Aguora, so if more layoffs come there lil ‘ol Susan may eat her words and then some.
