I've seen real estate reverse in So Cal before in 1990 to about 1996.
It was a slow process unlike a stock market crash. The high prices of 1989/90 took several years to hit bottom in around 1995/96, With several events contributing.
About a 27% drop on my home at the time. Real estates at that time was way undervalued IMO in this area.
Then prices seemed to be stable for just a year or so, and then started a slow climb in about 1998, And then taking off in 2001 or so.
Back then (early 90's) People seemed more effected by wars / disasters etc. tightening up their purse strings. I'm not seeing that so much now, if at all.
The economy in this area of SoCal has changed so much in the last ten years or so It's harder to predict. It seems more resilient than it used to be.
I think there is still plenty of demand for So Cal property in the better areas. It might slow and have little dips but a big crash I don't see happening.
Just my opinion.
