Part 3: The Last Great Southern California Housing Slump
Hello blog readers. I am still on my driving vacation of the West, and I think I can tell you that all the west's a bubble. I've accumulated a stack of real estate and property literature more than a foot high. Some places are more bubbly than Southern California, some are much more subdued. As far as I can tell, just about everything is overpriced.
In spite of a megadrought here in the West eight years and counting, almost nobody is taking water conservation seriously. Except for the Mojave, I've seen almost nothing serious in the way of wind turbines to produce electricity, and solar panels seem as uncommon in northern and eastern Nevada, southwest Utah, and north central Arizona as they are in Southern California. However these issues will be topics for future postings.
The third part of The Last Great Southern California Housing Slump has been published. Here it is.
posted by bearmaster at 6:29 AM
3 Comments:
I've highlighted your series on Exurban Nation. Excellent work.
Great series! I remember reading those articles then, and you bring them back in a good summary.
Don't forget, too, the earthquake in early 1994 pushed already-down prices a last step lower in most-affected places like Santa Monica.
Love the series.
Its much better as a composite.
Of interest to me is the faster pace of this downturn. Last time a typical laid off worker had years of savings. This time? A few weeks. Its going to be quick on the down slope.
Note: I've stretched out my time-frame and will not consider buying before winter 2009. :) yea... probably early. But I have two more years to listen and learn.
Got popcorn?
Neil
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