Thanks sdduuuude – yes that graph speaks volumes and does explain better.
I just think people who see an X percent drop in the boondocks, and then presume the nicer areas are going to have the same % cuts are in for a surprise.
I would still argue there are neighborhoods with a lot of competition to get into, that will hold up stronger regardless. Another example would be Beverly Hills; an address within BH means a lot to some people. The house right next door, but not in the right zip is worth a fraction to it’s neighbor. Large number of people want in, fewer distressed sellers, fewer foreclosures, areas where foreign investors actually do buy frequently (especially with the falling dollar), etc.
How many people in RSF really have to sell? How many are going to be foreclosed on? I’d wager a lot of money nowhere near the same % as Temecula.
