People in La Jolla feel the pain of economic slowdown later than the lower priced areas of SD. Just 1 year ago the NAR was predicting price appreciation at this time. The recient articals in the UT are the first signs to the general public of a REAL problem. Before that, it was all just bad press. It will take time, ie minimum fall ’08, for those in the higher brackets to feel the fear. Right now, a lot of people are waiting for the promised 2008 rebound to sell. Just wait till they realize that jumbo loans +1 over conforming are the norm, and see how many people want to buy. I am no expert, but if the definition of expert is the NAR, than that is a good thing.