waiting hawk, I live next door to HB, and close to the HB area you describe. It’s been a while since I looked there, so I don’t have a clear crystal ball. But I think there are few of the wealthy cash buyers for the shacks in this area, so I would give a drop from high 6’s and low 7’s to just under 5 a 50/50 chance. It won’t happen based on what we know now, but a new downward impetus, like a California recession triggered by housing, could do it by end of ’08.
Patient renter in OC