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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Bonefish who wrote (107247)	2/29/2008 2:40:56 AM
From: Peter V	Respond to of 306849

<<I can see the bottoming process has a long way to go.>> The most desirable neighborhoods are always the last to fall. There are always people with money, and they will gravitate to those areas. Such people are not usually your typical subprime borrower. And people will always try to move there if they can possibly afford it. Only when the economy really craters will prices come down here. Areas in LA's blue collar burbs, like Corona, have gotten killed. But I think those still have more pain to endure. I'm moving to a more upscale burb, Westlake Village, which has not fallen all that much, which is why I'm going to rent.