bzribee- Hang tight and save your cash. This is no run-of-the-mill recession we’re in. Events of this economic magnitude happen once every 60 to 80 years. For historical reference you can investigate the credit bubbles bursting of 1825, 1873 and 1929. When these things pop, like now, there’s huge financial carnage that follows. CA just recorded 8.2% unemployment and it’s going to rise all of 2009. And foreclosure’s of higher dollar loans have been defaulting at great numbers for the last 5 months, which translates into foreclosures in mid 2009. These two trends add up to massive downward pressure on real estate prices for 2009.