EconProf, the numbers do add up. The area I’m talking about is Diamond Bar. I live in an exclusive community called “The Country”. Perhaps you saw it on TV news with the recent fires. It was one of the evacuated neighborhoods. I sold my house for $2.0M in Nov.’05. True, San Diego peaked at that time, buy my particular area didn’t peak until mid to late ’07. Here’s the zillow link: http://www.zillow.com/homedetails/1813-Diamond-Knoll-Ln-Diamond-Bar-CA-91765/21661162_zpid

Per zillow, which I know has it’s inconsistencies, it’s currently valued at $2.4M. Checking with my realtor, it does seem to be accurate. So my originally posted math is correct. It does concern me that for each year I rent, over $30K is going bye bye for a house that is not mine. At some point I’m sure that the rent spent will exceed the savings from any decline. I am hoping that this (2009) will finally be the year that my area will get hit, and hit hard to make it all worthwhile.