We are in the same boat but mine is a smaller canoe in scripps while yours has a bit more horsepower in la jolla.
Come on now cyphire you know the answer to your question. LJ and CV have a stronger demand, less speculation, ratio-wise a much lower distress ratio then lower end or middle end areas, and homeowners that either have a strong equity stake, or are well employed and/or have not meandered into poor financing vehicles.
These factors do not absolve areas like CV and LJ, they just help them to be later players in the downward cycle. Indeed there have been foreclosures in both these areas but the demand is strong and homes that are price right or in distress move quick in these areas.
They will find thier way down the slip n slide but it will be towards the back end of the cycle.
