To beat a dead horse, I thought for some folks it would be interesting and intellectually stimulating to see the MAY numbers for the areas that the late latesummer2008 picked to illustrate that the OC was whacked and declining by 20-50% in APril YOY.

YOY numbers for May.

Newport Beach 92661 +32.3%
Laguna Beach 92651 -15.3%
Corona del Mar 92625 -6.7%
Capistrano Beach 92624 +167.5%
Trabuco Canyon 92679 +16.4%
Yorba Linda 92887 +4.6%

So, you see, following the logic of the original post, one might conclude that these areas mostly rebounded tremendously in May. And even the two areas with declines in May were off less than any one area in April. Using that logic would be flawed, however.

Conclusion: The original post was either a pea-brained conclusion based on myopic vision of specific areas of the OC … or sensationalism based on cherry-picked, extremely noisy, monthly zip-code specific numbers.