Houses in OB were $300K back in 2000. Incomes have been basically flat since then, the legal population hasn’t really changed, OB is the same white trash tweaker heaven it was back then but now the houses are $700K? Take away the crazy loans and speculation and it’s going to fall HARD. My guess is 3-5% drops for the next 3 years and then 5-10% drops for several more years after that. Get a good rent house and settle in to watch the show…
