Coronado has gone down a good chunk and will go down further. People speculated here just like everywhere else. I know a number of people who own here and are on the edge. Even people with significant means stretch their finances.

I also know someone who went broke building townhomes in La Jolla at the start of the last bust.

People are still in denial, though. One woman told me that only the “bad” streets in Coronado would go down in value.