Wasn’t there a post recently that some OC properties just closed escrow at 800K, down from a peak for 1.5 million?

Assuming thats true, thats close to a fifty percent drop already. Still out of the range of the average wage earner, tho.

Keep in mind that assuming the median price does drop to 400K, it will be on the heels of a recession and almost certain tightened lending standards, so it will probably be only marginally more realistic to purchase in that area then as it is now.