onslipperyslope

California Home Sales: 43% Year Over Year Increase!

You sound more like a fool who fell from the 13th floor. When passing down by 10th floor, he said to himself, "So far so good".

Moral of this story is that there are better exercises than jumping to conclusions and riding on guesses.

Just check patrick.net, there is whole wave of alt-a and low/no doc (meaning liar loans), and now prime is performing worse than sub-prime as people are getting stuck with -ve acquity.

What we have seen is only tip of the ice-berg. I suspect, home prices have atleast 20-30% to drop yet.