Nobody has a crystal ball but if you take all the facts into consideration, it’s not much of a leap to see that the more desirable areas may only suffer 30-35% drops from peak prices but most will drop as much as 50-60%. I believe that Fullerton is in the 50-60% loss group that will drop to 1996-1997 price levels.
Cyphire: Good on you! You will have the last laugh. Although Olivenhain is on the highly desirable list for many people, prices in that area are highly likely to drop to 2001-2002 levels. I sold my home in Leucadia in the spring of 2005 for top dollar and got out before the values starting dropping.
