I personnally think that each and every area is vulnerable to depreciation. I would have to agree that older established neighborhoods with fewer owners that need to sell will select not to sell in this market. That would make that micro select area seem less likely to drop in price. I think there will be a point of equalibrium for each and every neighborhood. If newer Scripps is selling for 50% less then older Scripps, then one would think that more buyers would lean towards newer Scripps, in turn putting pressure on older Scripps. If 4S Ranch is 50% less then newer Scripps, then one would think that more buyers would lean towards 4S Ranch, putting pressure on both new/old Scripps. So I would think that every neighborhood would affect it’s neighbor and at some point the Butterfly effect will take hold on all San Diego properties and beyond.