[quote=AK]I’m surprised by the results of sdr’s analysis too. But who wants to take on the risk of refinancing a property that’s almost certainly underwater?

Temecula is down 50% from the peak because of the uncertainty caused by the quarry project. Oh yeah, and because Temeculans like to argue. Once the quarry project is officially DOA, look for the next real estate bubble to start in Temecula.

The worst thing about age discrimination? IMO most of it is internalized age discrimination among managers over 45. They perceive their own physical and intellectual decay and project it on to their older subordinates.[/quote]

The answer is Uncle Sam. The gov’t wants to keep people in their homes and keep the economy growing. The folks waiting for values to drop so they can get what they think they deserve are in the minority. A couple years back you all said there was no way the gov’t couldnt stop a complete collapse of housing. I said watch them. Its pretty clear they have and there is no signs they will stop.