Latesummer, haven’t seen you post much lately. I remember your call for the market to start bottoming in the late summer of ’08, hence your handle. Do you still feel that way? I live on the opposite side of LA county, near the eastern county line in Diamond Bar. Prices here have barely budged for the high end homes. The regular old tract boxes have declined about 10-20 percent, not nearly as much as I would have expected by now. Problem is, there’s hardly any inventory of homes for sale. For a city of about 60,000, you can drive for blocks and never see a for sale sign. Very puzzling. The neighborhood I live in is all custom, live security gated homes. I’ve lived here twenty years. I sold in late 2005 and have been renting a custom ever since. Prices have moved down 10 percent at most. Very frustrating, as renting always feels so temporary, just not the same as owning. If my returns were greater (money saved from not depreciating) I would feel better, but almost three years of renting has not saved me any money. The house I sold kept appreciating until mid 2007, and has come off about 10 percent from peak, like I said. Even at current values, it’s still worth about 400K more than when I sold it. It’s looking like late summer 2008 needs to be revised outward to maybe 2010 or 11. I check the LA Times every Sunday, and still can’t believe the outrageous prices for homes over in your area and in Pasadena. $1 million doesn’t go far these days. The only area that I’m seeing real price relief is in Temecula/Murrieta/Elsinore area. Prices at or near 100 ft. It’s still 300 ft. around here (for the “cheap” stuff).