I would agree that desireable areas like CV, 4S and LCV will continue to decline. Based on economic conditions I think we could see another pretty goood sized chunk over the next 2-3 years if the government lets the market progress in a free manner.

Also I don’t read where people have claimed immunity for Carmel Valley. I have seen postings where people claim that it has held up better then other areas but I don’t confuse that with an immunity claim.