I don’t know about Burbank area, but on LA’s westside there is extensive development of condo units, including several thousand in Century City and a large number of smaller complexes that have been sprouting up all over the West side. Condo sales activity and prices have already flattened in these areas, as have SFH. LA appears to be at the point that SD market was heading into the end of summer/fall of 2005. Volume has been drying up and prices are no longer increasing. Seems to me that LA is about 9-12 months behind the SD area market. I would not recommend to any of my friends to buy anything here and now, and especially condos. Your chance to get on the equity train will come back around in the next few years, and if you are patient you will be able to get into more house than a condo under a flight path.