Honestly who cares about the past? The Great Recession was an entire generation past , 15 years ago.

Different times, different situation.

Might as well be a boomer and talk about saving & loan crisis and dotcom bubble.

Current situation is unprecedented.  Irvine 2007/2008 is a different Irvine of today.

This thread is about Irvine housing predictions, and it's hard to make an accurate prediction without understanding the past.  History doesn't repeat but it tends to rhyme.

Understanding the S&L crisis and the dotcom bubble can give many important lessons for understanding the bubbles of today.  Human behavior and the madness of crowds follow the same patterns over and over.  The new generation doesn't remember the past, usually fails to study history, and repeats the same mistakes that their forbears made.