I recently moved to Irvine from SD and I felt the same. People here think that Irvine is immune to the bubble. I have met people who were following the markets close enough to realise that SD RE market is slowing but truly felt Irvine wud do well. Actually the Irvine company (that owns all of Irvine) does a good job of managing new inventory to keep the demand up. I do see a lot of Open house notices around. So the resale market here might take a hit in some time. But the sentiment is not even close to what I felt in Caramel valley last week. I was driving through the streets of caramel valley and it felt like a carnival with all the flags, balloons and colourful signs.
It might take a few more months for Irvine to reach that frency, but it surely will. People here are just having some wishful thoughts.
