I grew up just down the road, amateurs wouldn't make it in Stockton.
Stockton was the focal point of the Drive til you qualify, Bay Area leapfrog commuting boom of the '90-05 period of 95¢ unleaded. The trend started in the East Bay and before it was over had reached down the central valley 120 miles. A client of my agency was a developer who subdivided and built many homes sold to repeat buyers who bought and held for 2 years, sold for a big profit and moved 40 miles farther from the Bay and bought a little bigger house, held for 2 years... Some did that 3 or 4 times until they were 100 miles from work, then the bottom fell out and every bit of that "equity" went poof along with demand for homes 100 miles from work that would pay the mortgage.
The economy went from kind of a big small town to boomtown all along hwy 99 with an incredible percentage of the economy concentrated on construction, remodeling, real estate clip joints and their co-conspirators, furniture, cars... it was really crazy. Another client owned a unfinished furniture store, if you can believe it, he wound up a rich man with a house on pebble beach.
When I started taking PO seriously it didn't take long to figure out what was going to happen to the real estate and then to the economy in general and of course eventually the government based on property taxes once the price of unleaaded started up.
Just another boomtown.
“Quite simply, we are looking at the highest average price since the age of oil began.”
-- Daniel Yergin
The only substitute for cheap energy is expensive energy. -- Me
Make a plan and work it. -- Me again
¡Where the heck are the pitchforks! www.MoveToAmend.org