Arraya I am a realtor and a homeowner and I don’t think it is hard to see at all. If you feel Mira Mesa and other like areas that have already had a substantial depreciation hit will add another 10-20% then I do have a disagreement. I think those areas and others like them will depreciate but at a slower rate then your prediction. As for 20% in some of the higher end areas? Yeah I think I can see that.
Although I would say that according to some of the thoughts that you have posted that are somewhat more apocalyptic, housing would be the least of our problems wouldn’t you think?
I wanted to add that it really will be based on unemployment and the willingness by the world to continue to extend us credit.