Flu: I was being sarcastic……Haven’t you ever heard the big lie that’s been going around SoCal for the last 20+ years about how property values can never go down? And one of the main reasons is that rich Asians will always come in and buy up all the available property? No offense was intended towards the Asian community.

To those who think that the 50%+ drop can’t happen in San Diego, I remind you to take a look at the last bubble-burst when high-end properties from San Francisco to San Diego did just that. I have a friend who bought in Beverly Hills when the prices collapsed. This collapse is highly likely to be very severe and I’ve heard all of these “it won’t happen here” stories before.