Home price above $500K are McMansion speculators or fradulent loan purchasers. E.g., As I drove by one home priced at 750K I noticed the 12 people living, eating and parked in the front yard. I am sure that given the style of clothing (white t-shirts and long black shorts covering arm tattoos) that these individuals were not lawyers, doctors or people with professional degrees who make over 100K in order to purchase expensive homes) Some neighborhoods can go from nice street to ghetto. . . when you see a 600K home with a 1999 Ford Focus and a Ford F150 packed with a Lawnmower you can do the Math? I forsee complete financial meltdown and 12,000,000 new credit applications to purchase the aftermath.

Thanks for the info…Oops. On the weekends, I'm outside wearing a t-shirt covered in paint mowing the lawn with a hand push mower in Carmel Valley. Maybe that's why my neighbors hate me. But I guess it's because I'm cheap and don't want to pay $60 to hire a gardener to mow 5 feet of grass. (I don't even have extended cable).