[artplumber]

Originally posted by SoCal911SC
There were plenty of previous contractions before the one starting in 1990 in So. Cal.

And LA/OC went down roughly 40% between the peak in '89 and the bottom in '97. Not 15-20%.

Perhaps I remember incorrectly, here are some links:

http://repositories.cdlib.org/cgi/viewcontent.cgi?article=1011&context=iber/fcreue (Page 4)

http://www.dailybulletin.com/homes/ci_2833446

Then there are the self congratulators:

http://www.theoccoastalgroup.com/Real-Estate-Info/2006-Real-Estate-Forecast.html

In other words, the market is too complex for us to know what exactly will happen. Wayne, don't buy until your internal equation changes. You always will take a risk that any large investment of money could go sour and cost you big, that's why diversification is important.