I just ran into a friend of mine at the Hillcrest farmers market. She was really bummed out. She was having some serious family problems. On top of which she admitted that the one bedroom condo she bought for 280 in july of 04 has now depreciated about 60k. I tried to tell her about the RE bubble when she bought, but for naught.
Unlike most who speculated, she can at least afford it, but that hurts when you see these predictions come true.
