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When is the market going to turn around?
Ever gotten this question?
I went to High School in the early 90's in Orange County California. Aliso Viejo Homes didn't exist. It's hard to find Realtors and Engineers my age in Orange County California, and I believe it is because of the 90's recession. All my friend's parents who were realtors or engineers were out of work. The aerospace industry had left and those high paying jobs with it, mortgage payments were sacrificed, homes were foreclosed, and prices fell. All the high income engineers lost their jobs and soon after every realtor struggled to find buyers. I was only in high school but it made a big impact on me and it must have impacted my generation. Try to find an engineer or realtor today in Orange County between 34-37 years old. Many parents I trusted and respected cursed their real estate speculation and warned against following their path. It seemed like the market waited until everyone lost hope before it turned around.
Towards the end of our great real estate boom in 2006 I listened while "expert" after "expert" promised that our economy is different this time, much too diverse for a large real estate collapse, "We'll never see an ... more
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