So you think a coastal carlsbad house that sold for, say, $850k last summer is going to drop to $510k? Wow, and I thought I was bearish. Absent interest rates going way way way up, or a successful al qaeda attack on the nuke plant up the coast, I just don’t see that happening. Maybe 40% down in temecula, which got truly ridiculous (and the lots there are puny too!) over recent years, but absent some huge ugly event, I don’t see such a drop for Carlsbad.
