40-50% of peak prices is possible for High End areas in Orange County (As carsonnv just stated)and other Southern California Counties. If you look at any major housing index (Case-Schiller) they are overwhelmingly NEGATIVE now. Da Counselor, you need to come with Da Numbers, rather than, just trying to discount others observations. You can say whatever you want, but need to back it up. I have given you last months numbers. Look at them and show me something different, or your just merely talking out the side of your _______.
But the real issue here is, the direction of prices, which doesn’t appear to be, up. And, with the amount of downside risk, I don’t see any people rushing into the market anymore.
