I'd rather live in Carpinteria than SB, DUDE!
I pay 30% of that and have NO OCEAN VIEW
Its actually quiet nice sitting out in the evenings in my blue recliner, even though the flies from the dumpster can be bothersome at times.
I agree with Snowman prices have gotten out of proportion. As in all SPECULATIVE BUBBLES things will correct back to the norm. Remember there are excesses on both the upside and downside.