Once Alt-A (especially pay option ARMs) start defaulting, compounded with VERY tight lending standards, rising mortgage rates, jobs market weakening, and huge existing inventory overhang…

Just my opinion, but I am thinking down another 20-30% over the next year in PB and La Jolla. It could easily turn into 40-50% if regional banks start becoming insolvent, which is a REAL and SIGNIFICANT probability per the Wall Street financial analysts.

Again, just my opinion but from what I see on CNBC daily and what I read here and other local RE related websites, the situation is getting bleaker for now…