If London suburb lost 60% in a regular recession, put me down for 80% drops in Temecula, El Cajon, and other far-flung and less desireable areas. Mydogs must be a homeowner, hoping that his property values won’t drop. This brings me to another point: too many “housing bears” who cling tightly to the dream their property or town is special, and will have a soft landing. mydogs, you’re a great guy, love your posts, but the market will not step out of its way to save you. If you can’t handle the drop, sell now. Maybe you are a renter already; good.
