IT'S OK TO CHEER THE RECOVERY

This was the headline in the Sunday OC Register on a recent Sunday morning, written by Jonathan Lansner.  He reports that the OC is in the midst of the sixth year of a recovery, and reminds us that we are recovering from an event no less catastrophic than the great depression.  Although the article reported that 3 separate reports detailed issues ranging from: 1) Elite workers make too much  2)Many workers aren't paid enough  3) We don't have enough elite jobs-- we still need to have some gratitude for where we are today.  Southern California is a unique blend of industries.  Perhaps in some ways this has slowed our recovery because we don't have a "boom" industry.  We have tourism, manufacturing, service labor (malls and entertainment), Hollywood, technology, marketing, etc.  One drags, and there is a drag on the local economy.  However, given where we started, and considering all homeowners have been fully qualified and vetted for their home loans, expect a price adjustment next year...maybe.  There is no bubble.  There is only a reason to be optimistic about where OC and So Cal are headed.