The Economy is stabilized and has been steadily improving for at least the past year here in Southern California.
Companies are hiring here again, Existing home inventory was at an all time low and has remained that way, approximate 2.5 month supply which was one of the lowest levels on record and without a doubt indicates substantial buying of single family residences leading to a moderate and sustained rise in values and prices. Several new housing developments are either in the planning stages or have already broken ground in an effort to accommodate demand.
The economy is cyclical, always has been and always will be, with the overall trend pointing Up.
Something to think about.....In the 1940's a 5,000 square foot mini mansion in Beverly Hills CA could be purchased for roughly $40,000 to $50,000 depending on amenities.....Today that same property is valued at roughly 10 Million & Up......Always keep things in perspective.