If LS08 had a historical perspective and is interested in buying on the Westside of LA then he should be thinking about 2011 or 2012 if this decline is anything like past declines (and I doubt it will be). LA has barely budged and is probably 24 months behind San Diego which is down about 8%-12% from the peak depending on where you are at.

I have no idea how he defines a “good buy” but prices would need to drop 50% or more and rents would need to rise 20% or more in most coastal areas if he simply uses cash flow as a basis for that decision. That’s not happening in the next 36 months much less by summer ’08.