Thanks to a relative who is a realtor (and who, of course, wants me to buy), I was able to gather these stats for Chula Vista 91913, which is mostly Otay Ranch and parts of Eastlake.

current listings at over $700,000- 105. Closed at over $700k in June- 2. Closed at over $700k in July- 0.

And how many people will be walking into this neighborhood in the next six months with $700k to spend? Dropping the listing 100/200k will be the only way to have a chance to sell.

I would say this situation presents the “very high probability of seeing tremendous depreciation in a short time.”