Fear of another crash lingers. People remember 2008 and they want to avoid being caught in the next decline. When we get to a late stage in the economic cycle like the present people get nervous and start asking “are we out of time?” They look for indicators to tell them “is the expansion over, or is there still more time?” The expansion is now going for a record 7 years. A number of analysts say there is another 2 or 3 years remaining. The rate of GDP growth in this cycle is the slowest since WWII and the forecast is for slower growth going forward. Southern California real estate has boomed to new highs and it is still holding strong.
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